LARSON'S STATEMENT ON UK OIL POLICY

(In a statement to the House of Commons on 12 December, Britain's Chancellor of the Exchequer, Mr. Nigel Lawson, made some significant remarks on UK government oil policy, including a flat rejection of any cooperation with OPEC on production restraint. The following is the relevant excerpt from his statement.)

Mr. Lawson: Exactly a month ago today I presented my autumn statement to the House!. In it I described a satisfactory outlook for growth,...