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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 14, 1973, Lethbridge, Alberta 46 HERALD Novombtr 1973 Middle East crisis a boost for Venezuela funds i By WILLIAM H. HEATH CARACAS Venezuela expects a record income from oil this year and even more next year because of the higher prices generated by the energy crisis and the Middle East war. For the 11 million Venezuelan people it could mean that funds for long- planned development 'are assured a subway for Ca- new low-income electrification to spur a steel a tanker fleet and a natural-gas plant in the western state of Zulia. But the prospect of more money to spend also has led to heightened by the campaign for the presidential election Dec. over how the funds should be used and what steps the country must take to preserve its fast-shrinking oil reserves. The Venezuelan oil policy translates into increased prices for consumers in North America The United buys approximately 1.5 million of the 3.3 million barrels of crude oil and petroleum products the country produces daily. Canada buys barrels a day. Such international oil giants as Mobil and which produce more than 85 per cent of Vene- zuela's are faced with the prospect of absorbing increas- ed taxes or passing them on to the customer. Higher tax plus increased pressure for early reversion of 40-year oil con- cessions which will begin to expire in have caused in- creasing concern among oil- company officials. The increased government earnings are primarily the re- sult of periodic boosts in 1973 in the so-called tax reference artificial price set by the government and used for calculation of the income tax paid by foreign oil com- panies. It now is 60 per cent. Petroleum companies oper- ating in Venezuela are free to sell the oil they produce at whatever price the inter- national market will bear. The 60-percent income tax is based on either the market price or the tax reference whichever is higher. If the market price is lower than the reference the latter is used for tax calculation. Operating expenses and royalties-are tax-deductable. Before the reference price was determined by negotiations between the oil companies and the government. Now it is set un- ilaterally by the which conducts monthly studies of such factors as market production and freight costs. The reference price which averaged a barrel at the end of has been raised nine times this year and now averages a barrel. The sharpest 56 per was put into effect Nov. 1. Oil men expect another boost Dec. 1 _ The full effect of the refer- ence price increases will not be fully known or felt until 1974 when taxes for 1973 are collected. the government estimates its share of oil earnings has risen to a barrel as of Nov 1 from on Jan. 1. The left of centre Social Christian headed by President Rafael estimates it will receive the equivalent of at least billion in income taxes from foreign oil companies in without considering recent reference-price boosts. This compares with the equivalent of billion in 1972 and million in 1970. Royalty and secondary tax payments will bring in another million in up from million in 1972. The government's economic planning has drawn up a five-year in- plan which would channel the new income into development projects. About one-third of Caracas' 2.2 million inhabitants live in hill shantytowns surrounding the city. A current govern- ment program for construc- tion of low income housing units a year throughout the country has not been met due to lack of funds. The project calling for con- struction of the subway system to solve urgent public transit needs in the traffic- choked capital is before the which must approve the estimated million cost of the principal line. Electrification spending would be concentrated in developing more hydro- electric facilities in the eastern site of large iron deposits and the Venezuela's developing steel industry. Venezuela's proven oil re- serves stand at roughly 13 bil- lion not including some 700 billion barrels of heavy oil in the undeveloped Orinoco tarbelt area of eastern Venezuela. Former mines minister Juan Pablo Perez architect of much of the nationalistic oil policy under former president Romulo has called for reduction of production by more than half to conserve oil reserves. He argues that with the in- creasing demand for oil and the decline in high prices and low production levels are the logical safeguard against depletion. A member of Democratic the leading opposition Perez Alfonso has ac- cused President Caldera of reckless spending and of pur- suing a policy of using oil revenues for making imports and subsidizing the economy. President Caldera says his government is not in favor of dropping production below current levels. Raising production to take advantage of emergencies on the inter- national market also has been ruled out. reductions of Venezuela's oil supply to its natural would be a little the presi- dent told a recent news conference. i Sears 2 chqcea The most famous electric shavers. Both with three shaving heads and sideburn trimmer. The choice is yours. 3 days only i99 each Reg. 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Available from to coMt in Canada through Simpsons-Sears stores and selected catalogue MM this very special offer is the effort Simpsons-Sears can make to bnng you merchandise that combines Roe quaMy with the lowest possible pric STORE Open Daily from a.m. to Thursday and Friday a.m. to p.m. Jentre Village Mall Telephone 328-9231 Red bricks helped Israeli bridgehead ROME During lengthy conversations in the Egyptian Desert last Maj. Gen. Ariel the commander who seized a bridgehead west of the Suez gave the first detailed narrative made public of how the Israeli plan to cross the canal and split the Egyptian army was conceived and executed. This is General Sharon's story of one of the most bitter battles ever fought by Israel. At a.m. Oct. the day before war broke the general was summoned to southern command head- quarters. After 25 years as a professional General who is 45 years had left the army July 15 to enter Israeli politics. For four years before his retirement he had headed the Southern Com- mand and the canal a factor that was to play an im- portant part in subsequent events. In retirement he was commander of a reserve division. Sharon said that during his four years as southern area commander he had realized that it might be necessary some day to make a canal crossing and had made preparations to do it. Where the two.sideroads reach the canal he'had in previous years constructed a vehicle-parking area about 400 yards long by 150 yards protected by high earthen banks. As along most of the canal's a high earthen bank towers over the water at this point. The bank is very thick and would require a great engineering effort to but Sharon said he had ordered one portion of the bank to be made relatively thin. This week spot had been marked by red bricks. When Sharon outlined his plan to his officers at dawn of Oct. an engineer- ing officer said that he could not quickly breach the banks with the 10 bulldozers and other earth-moving equip- ment assigned to him. told him to look for the red bricks and when the time came he found them in the dark and he did the general said later. Charon is what One armored positioned north of the Tasa- to-Great Bitter Lake was ordered to make a westerly attack beginning at 5 Oct. 15. was Sharon said. A second tank brigade was sent swinging in an arc over roadless sand dunes south of the beginning after dark at 6 p.m. It reached the north- south road on the lake shore without meeting any resistance and then turned northward. had the lake as a secure left Sharon said. The bulk of this second ar- mored brigade raced northward on the north-south passing both the Y- and T- where it first gegan to draw enemy fire. Within a few thousand yards to the north it was engaged in an increasingly bitter and costly battle with large Egyp- tian tank and infantry forces. This unit's role was to protect the bridgehead and prevent the Egyptians from moving southward to pinch off the canal-crossing effort. A special task force of tanks from the second brigade turn- ed left at the Y-junction and reached the canal at the securing it. Another small part of the brigade had already turned to the northeast on the Tasa-to- Great Bitter Lake Road and of Egyptian blocking who found themselves being attacked from behind. Waiting on the Tasa- to-Lake Road was a brigade of paratroops in half-track personnel carriers and carry- ing rubber rafts for the canal crossing. Behind them was the third armored ac- companied by a fleet of self- propelled rafts and barges capable of ferrying tanks across the water. Led by the which had cleared the the paratroops moved down the Tasa-to-Lake turned right at the moved northward and took the Y- junction to the canal. By 1 Oct. they had crossed on the rubber two hours behind the planned schedule. Almost no resistance was BY CHARLES MOHR New York Times Service found on the western bank but as the paratroops spread out to establish a secure perimeter they met a little more knockout put four Egyptian tanks with in- fantry anti-tank weapons. By 6 Oct. 13 hours after the operation the tanks of the third brigade were crossing the canal on and by a.m. all were across. They fanned out to attack four surface-to-air- missile sites on the western bank and open a safe corridor for the Israeli air force to operate in. The key to the was not the relative- ly easy movement of the units moving to the western side of the canal but rather the staggeringly violent fight to protect the bridgehead cor- ridor from Egyptian counterattacks on the eastern bank. The second armored assisted by the east armored brigade attacking from the held the main Egyptian southward thrust successfully. But Egyptian including infantry with wire- guided antitank in- filtrated an area near the T- junction and threatened the security of the bridgehead and movements to it. of units at night became very Sharon said. important equipment like the rafts had missed the Y-junction and gone on to the T-junction the operation would have been over right As it the Egyptian forces near the T-junction kept the spur road reaching the canal from the Y-junction under pressure for many hours. This led to an important military describ- ed in the New York Times last between Sharon and higher headquarters. Sharon asserted that his superiors had delayed sending a second armored division through the bridgehead he had seized to quickly the canal crossing because they had felt that his bridgehad was not secure enough. after what Sharon says was a 36-hour a se- cond division and then a third were passed through his bridgehead and given the task of encircling the Egyptian ar- Sharon's main duty was to hold the northern end of the bridgehead west of the canal and to continue to protect the approaches to the crossing point on the eastern bank. Sharon's men on the western bank moved and eventually reached the outskirts of while the second armored brigade on the eastern bank also pressed northward to widen the corridor on that bank. The present front lines which are the cease-fire lines run eastward from the canal just south of Ismailia. The multistory Suez Canal Authority building in the city and the British Second World War memorial obelisk are clearly visible from the forward Israeli positions. Williams asked for explanation VANCOUVER British Columbia Resources Minister Bob Williams was called on to explain to the provincial New Democratic Party convention why the government failed to appoint any worker representatives to the Crown owned Canadian Cellulose Co. Ltd. board of directors. Mr. Williams replied the government fully intended to implement party policy of un- ion representation on the boards of government owned and controlled companies. But he have no apologies to make for robbing the right wing of brains to work for us here in British Columbia in the direction that we He said Canadian acquired by the government earlier in the year from Cellanese Corp. of New had been badly mismanaged it was our view that there was a need for marketing ability and that kind of thing. of these people the nine member arc not on our list of lovely left but they have some knowledge of certain aspects of the industry that we wanted to make use he said Premtar Dave Barrett had clearly in- dicated the direction in which the government would go there will certainly be worker representation on crown controlled Delegates passed a resolu- tion demanding that and investment plans in Crown corporations and com- panies controlled by the Crown and its be determined by a committee or board including at least SO per cent worker elected by and responsible to workers in the ;