The main policy instruments employed to achieve the objectives stated in the 1974 White Paper are discussed here in relation to the goals of petroleum policy. The overall impression is that following the recent spate of legislative and tax procedures some of the uncertainties relating to profitability and security of investment in UK offshore waters have now been resolved. It is not yet clear whether the current position is a final resting point in the struggle for control that has taken place between international oil companies and the UK government. © 1977.
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|Published - Mar 1977