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Lethbridge Herald Newspaper Archives

- Page 24

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Lethbridge Herald, The (Newspaper) - July 29, 1974, Lethbridge, Alberta .t me LCI What has Canada's oil industry done for How soon everyone forgets. Not many people remember that Canada was not a major oil producer until late in the 1940's. Before Canada produced some crude but of its needs were imported. It took a search lasting more than 20 well over 100 the discovery in Alberta of a new and important oil field in 1947. That was 27 years ago. Since then the oil industry has grown by leaps and bounds. More than wells have been drilled in Western Canada alone. have produced crude oil. To process 40 modern refineries were over miles of pipe lines and hun- dreds of millions of dollars spent for the storage rail cars and service stations needed to create a fully effective oil industry. To serve you. Canadians enjoy today a very significant benefit from these industry accomplishments. You are in an enviable situation with regard to crude oil production. The quantity produced in Canada equals your total Canada is the only Western industrialized country so fortu- nate. There are other benefits. The oil industry is a good employer. men and women get their pay directly from the oil industry. it is a good customer of other Canadian busi- the vast amounts spent annually on exploration and drilling refining equipment and supplies of all make an important additional contribu- tion to employment in Canada. The ser- vice stations the industry has provided to serve all across is one of the best gas- oline distribution systems in the world. This amazing growth could not have been accomplished under any other system than that which we now enterprise. Com- petition has made each member of the oil indus- try operate in the most efficient manner. Each company constantly improves its products and services. No other or form of govern- mental could have resulted in Canada achieving the enviable position of being self-sufficient. And we must and do think and plan for the tomorrows to come. The oil industry has the will and desire above the experience to meet Canada's future petroleum energy re- quirements better than anyone else. To do this requires some understanding on your part. Some sources would have you believe that is we are and artists and that our profits are Harsh words for responsible companies to swallow because they are simply not true. We wouldn't be in business long if we acted badly or treated you unfairly. We also wouldn't be in business long if we didn't make a profit. Clear-thinking people know that all ours must have profit incentives sufficient to provide an adequate return on in- vestments in order to finance developments to provide for your future needs. We've come a long way we've got a long way to go. Texaco Canada Limited We're working to keen vourlhist. ;