Progress has been made in a number of areas, including a Euratom loan scheme, recommendations on the rational use of energy and the reduction of oil consumption in an Oil Supply Crisis.

The most notable example is the governing board of the International Energy Agency, which has the power to take binding decisions for the implementation of emergency measures in the event of an Oil Supply Crisis.

We obviously have an Oil Supply Crisis.

The Leader of the House will have heard the concerns expressed by Members on both sides of the House this morning about the Oil Supply Crisis in their constituencies.