PETROL SUPPLIES.

Auckland Star, Volume LXII, Issue 69, 23 March 1931, Page 3

PETROL SUPPLIES.

SUGGESTION TO GOVERNMENT

"ANNUAL SAVING OF £2,000,000."

(By Telegraph.— Parliamentary Reporter.) WELLINGTON, Saturday.

"This country is being crucified on the oH derricks of the oil trusts," declared Mr. J. S. Fletcher (Independent, Grey Lynn) in the House this morning, when predicting that New Zealand could save £2,000,000 annually by extracting its own petrol from crude oil. Mr. Fletcher said it was possible to establish a petrol cracking plant, and a site for it, for £300,000. The crude oil could be brought into the country and the operation of the plant would give employment to at least 200 workers. The Government should either get the companies to reduce the price of petrol, take over the petrol business, or establish a cracking plant. It would be necessary for the Government to take the initiative, because it would have to be a monopoly. A company could be formed with a definite guarantee to reduce prices. It could be allowed' 6 per cent profit, and any other profits made could be divided equally with the Government, in view of the fact that a monopoly had been given'. The country would save £2,000,000 a year, -and it would be on the high road to prosperity.