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Newspaper
Chetwynd The Echo
Location
Chetwynd, British Columbia, Canada
Date
Feb 01, 1978
Page
2
Editor notes a historic gas discovery in Canada signaling a major energy milestone. Details on location, company, and potential output remain sparse as officials confirm the find and assess its implications for markets and energy policy.
The Elmworth region in Alberta shows potential reserves in the trillions of cubic feet, threatening to undercut the need for the Dempster spur pipeline to the Mackenzie Delta. Texaco Canada GM Resources and Canadian Hunter Explorations led land acquisitions, with 640 acres selling at 1,574 per acre. Industry experts caution reserves could rival Mackenzie Delta totals, while Alberta eyes gas swaps with the U.S. and possible exports as Elmworth gas may feed Westcoast Transmission in British Columbia.
Victoria remarks by Don Phillips highlight reducing government rules and creating a single BC building code with a Standards Advisory Board headed by George Giles. Premier Bennett notes BC backing for a potential Alcan Pipeline pipe mill, with BC Development Corporation support including site, financing, and possible joint ventures to boost secondary manufacturing in the province.
Frank Kaplan notes that ordinary Canadians through Investment Funds Institute of Canada pools hold stakes in Bell Canada, Canadian Pacific, Moore Corporation and more. The Financial Post Survey shows thousands of Canadians investing via 78 to 81 funds totaling over 3.5 billion in assets, with individual holdings and overall influence across major companies.
The BCAA reports gasoline in British Columbia up about eight cents per gallon from a year ago with unleaded leading the rise at 8.1 cents and Victoria showing the smallest increases. Provincial averages are listed for Greater Vancouver Nelson Prince George Penticton Chilliwack and Nanaimo with regular premium and unleaded prices. Vehicle operating cost in Vancouver runs 14.46 cents per kilometre and total running costs per km comprise gasoline oil tires and repairs plus fixed costs.
A Vancouver Board of Trade discussion outlines what defines a small business, its economic role, and the challenges it faces. It notes 600,000 small firms in Canada, their share of employment, sales, and GDP, and highlights financing hurdles, diverse funding sources, and the board’s plan to consolidate financing information and better represent small business in 1978.
B C Hydro says the McGregor diversion plan is abandoned after studies found uniting Fraser River water with the Peace River system could threaten Arctic fish. The 460 foot dam on the McGregor River would have diverted water into the Parsnip system. Hydro left a door open for future attempts but noted no current safe method to transfer fish between the basins.
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