I found that the BP share offer had been oversubscribed within one minute of opening because of the discount. Every single BP share could be sold in Britain. This means we don’t have to sell them in America, but of course we feel committed, so the jobbers will be refusing British bids for BP in favour of New York. The National Iranian Oil Corporation, ie the Shah, is trying to buy 1 per cent so he can get a foothold in the North Sea. We have handed some of the most valuable assets of this country to the Shah, to the Americans and to private shareholders, and I am ashamed to be a member of the
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