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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - May 22, 1973, Lethbridge, Alberta Drives himself crazy Millionaire Mayor Mel Lastman of Norh York in Toronto reaches for the meter of the cab he drove for four hours the other night. He decided he was better off as a poli- tician after making illegal left turns, pulling U-turns, and climbing a 'ansard has its humor Tuwdoy, Moy 22, 1973 THI IETHBRIDGE HIRAID 21 Have oil companies lost control? Gasoline costs going up ...up ...up By BUD JORGENSEN Canadian Press Staff Writer The price of a gallon of gaso- line is steadily moving upward and there is a suspicion that the oil companies have lost control over prices. Marketing men will not talk if they are going to be quoted by name, but tiiey concede pri- vately that they are caught in a cost-push bind. The price of the raw mate- been jump- ing sharply and money-saving technological advances are not imminent. Until recently, the price of crude oil had risen slowly. Costs of domestic production have gone up, but more impor- tant is the fact that the oil-rich Arab countries have banded to- gether and effectively stopped the old practice of oil com- panies playing suppliers off against each other for lower prices. "Up until the last couple of years the increase in the price of crude has been largely cov- ered by technological one marketing executive said. It is now a seller's market and it would take a competing energy source to drive down the price of crude ol. The raw ma'.erial cost is one of those items that the oil com- pany executives say they can- not compute. They do use a price for internal which they will not but this is an artificial figure. Canadian crude oil now costs about 11.4 cents a gallon deliv- ered to central Canada and about nine cents a gallon at the wellhead in the West. Close to one-third of a gallon of crude on average goes to make gasoline. The oil company officials say gasoline is considered to be one of the more expensive com- ponents of crude oil. The cost to refine a gallon of gasoline is one of those figures tfce oil company executives say is not available. It costs about four cents a gallon for administration, deliv- ery, advertising, credit and pro- motion combined, one market- ing director said. The wholesale price of gaso- the oil companies ranges between 22 and 26 cents. This price gener- ally is lower west of vie Ottawa River valley, the area supplied by Canadian crude oil, and higher in Quebec and the Atlan- tic provinces where imparted crude oil is used to make gaso- line. Federal sales tax, which is a percentage of the wholesale price, ranges between 2.5 and 2.9 cents a gallon. The highest provincial tax is 25 cents a gal- lon in Newfoundland and the lowest 15 cents in British Co- lumbia and Alberta. Between 1957 and 1972 the av- erage gain across Canada in the wholesale price has been less than 10 per cent. By contrast, the dealer margin has gone up by more than 60 per cent in some cities. Labor is a large item in the dealers' budgets and rising land costs push lease costs up. The oil companies have man- aged to kosp the wholesale price down and profits up by building bigger and more tech- nologically advanced refineries and by keeping a lid on the price of crude oil. Shell Oil Co. of the United States recently completed a projection of U.S. energy re- quirements and supply through 1990. Many of the assumptions built into the study boil down to predictions of an increasingly efficient use of a commodity that will become increasingly expensive. The study mentions two fore- seeable technological improve- ments and one of these two is development of electric battery or fue'-cell cars: In other words, a portion of cars to be produced will not need their product. DISCOVER.. Our world of Fashion in fabulous SUMMER SANDALS The styles and colors are up-to-the- minute new. Slings Plaforms are great We also have sandals for men They're ail at Open Thursday till 9 p.m. WORLD OF SHOES 317A 6th STREET DOWNTOWN By STEWART MacLEOD OTTAWA (CP) Hansard, the official record of parlia- mentary debates, is usually free cf typographical oc- casionally lettsrs are trans- posgd, such as the time Mrs. Grace Maclnnis couver Kingsway) was talking about the proposed prices re- view board: "I suggest that the minister look at this broad in a way completely different from that in which he has so far viewed it." Conservative Leader Robert Stanfield, explaining to a French-language television in- terviewer why he appears to speak slowly: "I dcn't, it's just that every- one else talks quickly." An aide has finally cleared up the difference between Mr. Slanfield's "news conferences" and "press availability ses- sions" which have been fea- tures in his cross-Canada tours. ''A news conference is to deal with specific issues; and an availability session is when he is available to answer any ques- tions reporters want to raiss." Invited to the television inter- view room to discuss his speech on capital punishment, Prime Minisrer Trudeau said: "You haven't been inviting me down here very often lately. Is it be- cause the prime minister's pop- ularity has gone lower with the It was obviously alight- hearted remark. "No a reporter replied, "you're popularity with the press is no lower than its 'ever been." And the matter ended there, somewhat awkwardly. When it comes to clothes Claude Wagner is fast ridding himself of the grey-suited judi- cial image he portrayed as a Quebec judge and justice minis- ter. With blazing sports jackets and ties, the Conservative MP for St. Hyacinthe is becoming one of the more colorful MPs in the Commons. "My, said a colleague recently. Mr. Wagner had turned up hi a pair of yellow shoes. Prime Minister Trudeau naw is bang driven in a new 1973 Cadillac, replacing the 1967 model he has used since assum- ing office. Unlike the old car, this one has armor plating and bullet-proof glass. But the licence number re- mains the making it easier for the two RCMP officers who invariably follow the limousine in an un- marked cruiser. Law school approved VICTORIA (CP) A law school will open at the Uni- versity of Victoria in Septem- ber, 1974, Education Minister Eileen Dailly says. She said she has given ap- proval for a supplementary grant of above the university's annual budget, of which will set up a school of law for 80-100 stu- dents in the first year. Another will start a program for child care work- ers, leading to a bachelor of arts degree in the field, and will set up a school of public administration. Rooms can be kept up to 15% cooler in summer. YOUR CHOICE 3 DIFFERENT TYPES 1BREGLASS All sizes to fit your windows. 6 permanent deccrrtor colours. w B WW Available in 2 sizes: 5 step 18" projection; 8 step 26" projection. Wood slats are attached to metal brac- kets. Can be painted any desired colour. ALUMINUM Custom made to fit your windows. 8 baked on decorator colours. WE WILL BE PLEASED TO MEASURE YOUR WINDOWS AND QUOTE YOU PRICES INSTALLED. ADVANCE LUMBER CO. LTD. YOUR PIONEER LUMBER DEALER SINCE 1925 Cor. 2nd Ave. -13 St. Lethbridga Phone 328-3301 Lefstedk interest rates, a better money Whatever your reason for putting money in the bank, you want a savings plan tailored to your own needs and wants. That's why we offer a variety of accounts, each with its own interest rates. And each with its special features to help you get the most benefit from your money and to fit your special situation. Look them all over. Check the features that are best suited to your savings and chequing requirements. And then let's talk. lermDeposit Receipts. Here your min- imum deposit must be and remain untouched for 5 years and 1 day to earn the full 734% interest per annum paid twice a year. And that is guaranteed, regard- less of what happens to interest rates be- tween now and then. You can also cash them in anytime at betwee-n and depending on how long you hold them. There are other arrangements for terms shorter than 5 years. 6 Year Savings Certificates. Buy them in any multiple of and let them earn compounded semi-annually when held for the full six year term. They're redeemable anytime. And after the first six months, on a gradu- ated scale of interest, (shown on the certifi- cate) that build each invested into True Savings Account This is strictly for saving. No cheques, but you can withdraw your money at any time and, on your in- structions, the Bank will make transfers to your chequing ac- count at no cost. In- terest is based on your minimum monthly balance and credited to your account twice a year. 3% Chequable Savings Account This is a savings account on which you can write cheques. In- terest is based on your minimum half-yearly balance and credited semi-annually. 0 True Chequing Account This is for your working interest but it allows you to pay bills by most economical way pos- sible. Each month you get an itemized statement of your ac- count and your can- celled cheques which are your receipts. We also have a "Money Wheel" which you'll find a helpful guide for planning your income spending. Ask for it at any Bank of Montreal. The First Canadian Bank Bank of Montreal ;