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Lethbridge Herald Newspaper Archives

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The Lethbridge Herald (Newspaper) - January 8, 1974, Lethbridge, Alberta _THt tffTHBMMI 6 fAe Industry London became the hub of Ontario's oil industry in the 1880's when oil was discovered at Oil Springs in 1858. This is the Atlantic Petroleum Works in London about 1875. The refinery was estab- lished in 1866 by Herman and Isaac Waterman, when the oil business was at its height Canadian petroleum find fed a few small fortunes By RICHARD ANCO, Canadian Press writer Helped discovery Geologist Ted Link helped discover oil" at Norman Wells near the Arctic in the Northwest Territories in 1920. Canada's late-developing pe- troleum industry managed to produce a few Canadian fortunes before the giant corporations of the United States took con- trol. Names such as Eric Lafferty Harvie, Robert Brown Jr., Frank McMahon, Max Bell and Glenn Nielson are among a select circle who struck it rich in the scram- ble for Canadian oil Ironically, it was in Canada that North America's oil in- dustry began. In 1858 James Miller Williams dug the conti- nent's first producing well near Oil Springs, 20 miles southeast of Sarnia A trickle of oil still comes from several southwestern On- tario pools today. Then for nearly 90 years Canada's oil industry languished while attention shifted to the U.S. It wasn't until 1947, on a farm near Leduc, 18 miles southwest of Edmonton, that a massive oil discovery brought Canada into the age of big oil In the following decades came such fields as Pembina, Redwater, Rainbow Lake and Swan Hills and finds in Saskatchewan and Manitoba. Needed capital Even before Leduc the mul- tinationals were reaching into Canada After it, they moved in with force, absorbing Canadian companies in need of capital and technology. By 1969, Imperial, Gulf, Shell and Texaco had become the big four of Canadian oil. They are subsidiaries or associates of ma- jor international companies, three U.S. and one Dutch- English. They accounted for 35 per cent of all oil produced and 70 per cent of all refined products sold in Canada. At the start of this decade foreign firms dominated the Canadian petroleum industry, representing 91 per cent of as- sets and 95 per cent of sales U.S ;