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PRESS STATEMENT NO. 373
18 November 1974
CRUDE OIL POLICY
The Prime Minister announced that a regulation under
the Prices Justification Act 1973-1974 had been gazetted today
removing the supply of Australian indigenous crude oil from the
application of that Act. The recently announced proposed price
increase by Ampol Exploration Ltd. will thus no longer come
within the jurisdiction of the Prices Justification Tribunal.
The Prime Minister stated that the price applicable
to indigenous crude oil production was determined in October
1968 by the then Government as a part of indigenous crude oil
policy and had been fixed for the period ending 17 September,
1975. It was therefore inappropriate for this matter to be
dealt with under the Prices Justification Act.
CANBERRA, A. C. T.
Whitlam, Gough
Period of Service: 05/12/1972 - 11/11/1975
Find more information on Whitlam, Gough on the:
Release Date:
18/11/1974
Release Type:
Media Release
Transcript ID:
3472
Document:
00003472.pdf
1 Page(s)
Released by:
- Whitlam, Edward Gough
CRUDE OIL POLICY
3472