OIL MONOPOLY

Evening Post, Volume CXIV, Issue 92, 15 October 1932, Page 12

OIL MONOPOLY

GOVERNMENT ON WATCH

MR. FORBES'S ASSURANCE

An asaurance that the Government was keeping a close eye on the question of petrol prices in New Zealand- was given by tho Prime Minister (the Eight Hon. O. W. Forbes) in the House of Eepresentativea last night when replying, to a question by Mr. P. Praser (Labour, Wellington Central). .-

Mr. Eraser said that as the result of tho recent world-wide .agreement between oil interests the element of competition would disappear, and if it wero possible to increase the price by threepence a gallon by merely sending a cablograni from New York to London the Prime Minister must be aware of tho possibilities of consumers in New Zealand being exploited. To meet the position, which was admittedly difficult, the Government could cither take over the distribution, which would bo thp best means, or control prices. "I can assure tho House," replied Mr. .Forbes, "that the position regarding oil supplies is one the Government will keep a close eye on. Anything in the nature of a world-wide monopoly would bo_ difficult to combat, but we are not going to see tho people of New Zea-' land exploited if it 'can possibly be avoided. It is a difficult matter, but if wo reach tho stage of being at the mercy of a combine. the". Government, will do everything it possibiy can to prevent it from" operating in New Zealand. You can rely on that," ■