Written question asked by Mike Weir (Scottish National Party) on Monday, 15 November 2004, in the House of Commons. It was due for an answer on Thursday, 18 November 2004. It was answered by John Healey (Labour) on Thursday, 18 November 2004 on behalf of the Treasury.

Treasury

Question: To ask Mr Chancellor of the Exchequer, what steps he is taking to assist in stabilising fuel prices; and if he will make a statement.

Answer: Mr. Weir: To ask the Chancellor of the Exchequer what steps he is taking to assist in stabilising fuel prices; and if he will make a statement. [199213] John Healey: The Chancellor recently set out four areas for action aimed at alleviating pressure on the crude oil price: Firstly, OPEC must continue to take necessary action to return pricing to levels consistent with global prosperity. Secondly, actions are needed to improve the transparency and efficiency of the oil markets. Thirdly, oil producing countries need to promote sustainable investment in their reserves and productive capacity. Fourthly, all countries must promote greater energy efficiency and develop new sources of energy. G7 Finance Ministers broadly endorsed these themes at their meeting in October and called for producer and consumer action to progress them.

Secondary information

Type: Written question
Reference: 199213; 426 c1717W;426 c1721-2W
Session: 2003-04
Subjects: Oil Prices
Link: View this Written question on www.publications.parliament.uk

Treasury

Secondary information

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