Abstract
OCCURRENCE of petroleum in Britain is once again in the limelight, this time focused by what, from a public point of view, seems to be sudden and dramatic action on the part of the Government. On March 22, the President of the Board of Trade announced in the House of Commons that the whole question of oil exploration has recently been reviewed following renewed activities in this direction. It is intended to introduce legislation forthwith to remove certain difficulties existent under the Petroleum (Production) Act 1918, and to secure orderly development of any oil which may be discovered. The most far-reaching and drastic proposal is that ownership of all petroleum at present unknown shall be vested in the State. A licence to explore for oil must be obtained from the Board of Trade, payment being made to the Ex chequer on any oil produced. The bill was introduced in the House of Lords on March 22. In addition to the provisos mentioned above, the bill makes possible compulsory acquisition of rights to enter on land; further, that in considering any application made to the Railway and Canal Commission under that Act, the Commission shall have regard to the effect on the amenities of the locality. Compensation in respect of granting prospecting rights is to be made subject to additional allowance of not less than ten per cent on account of compulsory acquisition.
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Petroleum in Great Britain. Nature 133, 487–488 (1934). https://doi.org/10.1038/133487b0
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DOI: https://doi.org/10.1038/133487b0