Lethbridge Herald, The (Newspaper) - December 12, 1974, Lethbridge, Alberta
Thursday, December 12, 1974 THE LETHBRIDGE HERALD 17 OPEC dismantling outdated petroleum pricing structure VlhJNNA (Keuter) Slight- ly higher oil prices were forecast Wednesday as senior ministers of oil exporting countries prepared to disman- tle the industry's pricing structure. The 13-country Organization Liberal ridings get lion's share of LIP grants OTTAWA (CP) Figures released Wednesday on the latest batch of Local Initiatives Program grants show that Liberal ridings get the major share of the funds. A total of million in grants, bringing the 1974-75 program to million, was announced by Manpower Minister Robert Andras with the assurance that the "allocation is totally objec- tive." There have been numerous, charges in the Commons that LIP grants are made political- ly rather than on the basis of need. This has been denied by the government. Of the 52 projects announc- ed Wednesday, 27 are Liberal ridings. 18 in ones held by Con- servatives, four to Socirl Credit seats, two to New Democratic Party holdings and one to Moncton riding, held by Leonard Jones, the lone Independent in the 264- seat Commons. "The formula we have ap- plied has effectively provided communities having the highest rate of unemployment with the major share of LIP Mr. Andras said in a news release. As usual, Quebec got the largest number of grants, a total of 15 worth million. Ten of these, worth went to projects in Liberal ridings. The largest single amount, however, was 000 for a project in Roberval, a seat held by Social Credit MP Charles-Arthur Gauthier. The second-largest grant. went to the Liberal seat of Bonaventure-Iles-de- laMadeleine, while the smallest, went to Liberal-held Frontenac. One of the Quebec projects, worth went to a group in the riding of Joliette, held by Roch LaSalle, one of three Conservatives in the province. The four others, worth a total of went to Social Credit ridings. The national breakdown was Liberals million, Conservatives million, Social Credit NDP and Mr. Jones The largest provincial total was British Columbia's million for eight projects, with going for four in Conservative ridings and for four in Liberal ridings. A project in Conser- vative Howard Johnston's Okanagan-Kootenay seat got the biggest single B.C. grant, Other provincial totals, in order of size, were: Newfoundland for five projects, New Brunswick for seven, Ontario for eight, Alberta for six and Prince Edward Island for three. There were no LIP grants for projects in Nova Scotia, Manitoba, Sas- katchewan or the two northern territories in this latest group. of Petroleum Exporting Countries (OPEC) begins a ministerial conference Thurs- day and is expected to an- nounce plans for a single "unified" price for crude oil. Most OPEC countries have sent oil ministers. The uniform pricing system would cover OPEC's global production of 30 million barrels a day, replacing a complex pyramid of rates es- tablished at a time when the big international oil com- panies dictated prices. Informed sources said the new price was virtually cer- tain to include an inflation element. This would probably match the size of the last cost increase in September, when OPEC ministers effectively increased the price of crude oil by 33 cents a barrel by rais- ing royalty and tax rates by 3Va per cent. Although relatively small, it was estimated the September increase added at least billion to the Western world's annual oil bill. OPEC countries supply about 85 per cent of Western needs. If OPEC ministers endorse recommendations made by their experts, there would be no royalties or taxes to increase. The conference would end posted prices, a system of national indicators used only to calculate royalties and taxes. The en- tire system would be scrapped. It would be replaced by a single price, subject to vari- ation only because of differ- ences in quality, gravity and freight costs. OPEC sources said OPEC's economic commission had recommended a base price of a barrel. Iran has proposed that es- tablished oil companies should get a discount of 50 cents a barrel, reducing the net cost to After allow- ing for production expenses, this represents a rise of 33 cents on current average costs. WIN 2 TITLES William and Mary took the indoor and outdoor Southern Conferencce track titles in 1974. Look bade Look back. Look forward. To light mellow enjoy- ment with a traditional flavour. This fine rye whisky tastes as smooth as you hoped it would. To the courage of the Cariboo prospector. To the spirit of the Pioneer outrider. Deiuxe Rve Whiskv Gold Rush Oaya on ths Cariboo Jtati CARRINGTON DISTILLERS LIMITED WHERE DISTILLING IS STILL A LIVING ART. iitpiir.iiimi. .imhiuljiL-. I! S.A. I til Polaroid fiirpni Black and white. Polaroid's Zip orange, green, brown purple and pink. Zip is our lowest-priced gift idea yet. A Polaroid Land camera that gives black and white pictures in 30 seconds. And uses our least expensive pack film. And so easy to use. A lens that needs no focusing. Built-in flash holder. An ingenious built-in photometer that tells you when to shoot (it reads YES when the light's Put a little Zip in someone's life. Polaroid's Square Shooter 2 With Square Shooter 2 you can give al I the colors of the rainbow in 60 seconds. And at our lowest color camera price With features you'd find on cameras costing more: electric eye, electronic shutter, sharp 3-element lens, built-in flash for 4-shot flashcubes. And it uses our least expensive color film. We put everything into'this minute.