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Friday, 21 May 1965

Senator Sir WALTER COOPER - Has the Minister representing the Minister for National Development seen a statement in the " Queensland Mining Journal " of March 1965, attributed to the President of of the Australian Petroleum Exploration Association, Mr. R. C. Sprigg, that Australia must encourage early oil discovery right up to the point where it hurts and that this was essential in the interests of national defence and preservation of the nation's balance of overseas payments? In view of the particular importance of the oil industry in this time of increasing international tension, will the Minister investigate the possibility of the Government's increasing its assistance in oil exploration by restoring . the subsidies which are at present withheld from operation within specified distances of discovery wells?

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