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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 2, 1974, Lethbridge, Alberta 16 LETHBRIDGE HERALD-Wednesday, October 2, 1974 Japanese investor uneasy over federal-provincial oil dispute First ot a series TOKYO (CP) A Japanese petroleum official predicts that foreign investment in the vast northern Alberta oil sands will be limited until the resources dispute between Ot- tawa and the provinces is set- tled. "It's a difficult situation for a group of visiting Canadian reporters was told by Haichiro Asaka, managing director of Fujo Petroleum .w.. tf .a s Digging in tar sands require heavy foreign investment. The best to you from Palm. Milk. Pfll_M PALM DAIRIES LIMITED Corp. Asaka, whose company has invested million in an Al- berta oil sands research proj- ect, said energy policy feder- ally and provincially is un- clear in Canada, and in- vestors will move cautiously until matters are clarified. Ottawa and the provinces must settle crucial questions such as long-term oil-export restrictions and the division of oil revenues, Asaka said. Investors needed a stable cli- mate before investing heavily. Another factor obscuring the picture was Canada's new foreign investment legislation. It requires clearance of foreign-financed development projects by a federal screening agency. Asaka said he is unsure how the legislation will affect Fu- jo's oil sands interests. The Tokyo-based company agreed last February to spend million on research and exploration in the Cold Lake district of Alberta. This is be- ing done in co-operation with Canadian Industrial Oil of Calgary, a company con- nected with Imperial Oil. Fujo has until June, 1975, to decide whether to move into a second-phase operation that would require another to million by 1980 to build two prototype plants for sepa- rating the thick oil from the sticky sands. "We can't say yet whether we'll go Asaka said. The final phase, if all ques- tions are settled, would be a Si-billion extraction plant built sometime after 1980. It would have a capacity of 000 barrels of synthetic crude oil daily. Asaka said Fujo talked with Ottawa before the initial million commitment was made and, unofficially, the company was encouraged to go ahead. But much more information would be needed before mak- ing any large-scale com- mitments. If approved, the second phase of the Fujo project would be financed 75 per cent by the Japanese company and 25 per cent by its Canadian counterpart. No arrangements exist for the final phase, but Asaka said it likely would be on a 50-50 basis. The oil sands are the big- gest potential energy reserve in million bar- rels or more with advanced technology and extraction methods. Remaining proven conventional oil reserves in Canada total less than 10 mil- lion barrels. Oil sands extraction is cost- ly and most oil experts agree that large-scale development will require heavy foreign investment. Great Canadian Oil Sands Ltd. operates the only exist- ing extraction plant. Located at Fort MacMurray, Alta., it produces about barrels a day. Couple seeks bargains in Tokyo supermarket. 'Shocking new perspective Tokyo prices highest in world Second of a series TOKYO (CP) Can you believe paying a month for an apartment, or a pound for steak? Eye-popping prices like these bring home with a bang SAVINGS! QUALITY! SERVICE! Purity Flour Mt Nit Wt. Rice Krispies 6909 Cheez Whiz Kraft Past Proc 2 ib. net wt. 1 95 Margarine 1 Imperial 3lb nelwl 98 EVAPORATED MILK CimtiOB.16fl.oz. VEGETABLE SALAD ticks or tooo Trio. 15 fl.oz. BROWNIE MIX QofVBrooi 11 oz. oot BARTLETT PEARS Canada Fancy 4i89 CANADA NO. 1 Tomatoes California CANADA NO. 1 CARROTS CANADA NO. 2 Potatoes Alta Norland 15 09 Strawberries 59' WeslVate Fancy Frozen Entries Swansonj Chicken Bee) or TurHjy ROC 60; rielwl WW SUPPORT YOUR LOCAL INDEPENDENT GROCER Ml MALIK'S try our Finest Quality Meats Cut to Your Requirements 642 -13th Street North Phone 328-5742 FREE Citjf on Ordvrt. Hoorr MorNUrjr, ToMdcji, end SttarOfi 9 to 8 tmi FiMty 9 KTI. to 9 what it means to live in the most expensive city in the world. North Americans, who thought they were caught in the price squeeze at home, get a shocking new perspective in Tokyo. The rent was paid by a Canadian businessman when he moved here recently with his family. It gave him a well- equipped, centrally located three bedroom apartment but the price was 10 times more than in most Canadian cities. Other rents are lower, but two and three bedroom apartments commonly cost to Almost nothing, no matter how meagre, rents for less than Then there is the super- market. The ?46-a-pound steak was spotted by a Canadian embassy employee. The price was staggering, even for Tokyo. Cheaper beef cuts sell for far less but shoppers regularly pay to a pound for rump or stewing beef. A half-pound tin of coffee costs about and oranges sell for to a pound. A bottle of good quality im- ported scotch whisky can cost or more and gasoline sells for about a gallon. Japanese cars, traditionally among the cheapest in the world, are beyond the reach of many Japanese workers and an imported Ford Mustang can cost up to For visitors, prices can be particularly outrageous. One businessman paid to take a client to dinner. The bill covered two steak dinners and a bottle of wine. The Japanese consumer price index jumped 23 per cent in 1973, the highest in the in- dustrialized world, and the increase may be higher this year. But some prices do compare with North America. Taxi fares start at 170 yen, about 60 cents, and public transporta- tion fees, despite major increases, are lower than in Canada. A Tokyo subway ride costs 50 yen, about 17 cents. Another consolation is the Japanese resistance to tip- ping. Most waiters and atten- dants refuse tips. But many restaurant bills include 10- per-cent service charge and a further 10-per-cent tax impos- ed by the government. In most Tokyo bars attrac- tive Japanese "hostesses" flutter to the customer's side when he enters. Buy one a drink and the bill might run to Stay for several rounds and it can tax the best expense accounts. NEXT: Japan-Canada trading partnership expected to continue. Political violence, death common in Argentine cities BUENOS AIRES (AP) Political violence has struck Argentina from downtown Buenos Aires to the desolate Andean foothills. Nearly 100 persons have been murdered since the start of July. Crowds fill the streets of the capital, outwardly gay and re- laxed. But a car backfire, or even a loudly slammed door, causes alarm. In the rich rural provinces, there is a gnawing uneasiness. A car speeding down a back road may be filled with kids on a spree. Or it may be a carload of guerrillas seeking victims. Some Argentines react to the bombings, machine- gunnings, kidnappings and tor- ture with a philosophic things always happen to the other man. Many others are at the point of hysteria. Residents of the posh Pa- lermo district here-were rock- ed in their beds by an explo- sion early Monday. That after- noon they read that an exiled Chilean leftist. Gen. Carlos Prats, and his wife had been blown up by a bomb under their car. Men believed to be Marxist terrorists machine-gunned a military staff car later Mon- day, wounding two officers and an aide. Another guerrilla shot at a colonel elsewhere, but missed. The army had just buried a lieutenant-colonel and a lieutenant, murdered by guerrillas who said they were taking revenge for 14 to 16 comrades who they say were slam while prisoners of the military Three well-organized under- ground armies are at war. On the right is the Argentine AnU-Commumsl Alliance. On the left are the Marxist People's Revolutionary Army and the Montoneros. the most- radical element of the Peronist Youth. Some leftist guerrillas want lo overthrow Ihe government Others want to take control of the Peronist movement, now dominated by conservatives. Rightist? want to speed ap the slow process of arrest and tnaS Some groups kidnap for ransom, others take revenge for past violence. Others just make mistakes. Dissident labor groups, freelance hotheads, fringe- group fanatics and common criminals also have adopted violence as a routine. The police generally feel they must shoot or be shot. The People's Revolutionary Army is organized for terror- ism, and most of its major strikes have been in the prov- inces. As a result, the once-re- laxed atmosphere outside the capital is growing tense. The Anti-Communist Alliance, which claims to have killed at least 16 persons, periodically issues lists of names to those it has condemned to die. Many of them have fled the country. Senate starts session with heavy work load By GINNY GALT OTTAWA (CP) The heav- ier workload predicted for the Senate became reality Tues- day when five pieces of proposed government legisla- tion were introduced in the up- per house. five times the amount of government legislation initiated in the Senate last Senator Ray Perrault, the new government Senate leader, said in jest during an in- terview. Following introduction of the bills, an astonished Senator Allister Grosart (On- tario K deputy Opposition leader, asked: "Isn't this a bit But Senator Perrault