In a large, warm, non-stick saute' pan, melt butter, add white pepper, salt, shallots and bay, let shallots sweat one minute. Place oysters and their liquid inside and warm, sprinkle flour in the pan, and gently move about. As the outer edges of the oysters start to curl, with a slotted spoon gently remove them from the pan, and place them to the side, take care to leave as much of the other stuff in the pan. Turn the heat up under the pan, add beer and bring to simmer. Add cream and let return to simmer for 1 minutes, the stew should thicken slightly, turn heat down, add oysters, and let them warm through, and finish cooking, (1 minute.) Gently remove oysters to the warmed bowls equally portioned, ladle stew over top, sprinkle with parsley, serve immediately, with crusty bread, or oyster crackers.