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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 4, 1973, Lethbridge, Alberta inunaay, uciooar 4, me LCinBHIDUe HERALD 29 Geoloeist chastises Alberta Crude oil shortage seen by 1985 KDMONTON (CP) By 1985 Canada will be importing more than one million barrels of crude oil a day west of the National Energy Board's Ot- tawa Vallev line, savs Mel Hurtig, chairman of the Com- mittee lor an Independent Canada. Mr. Hurtig was quoting from a letter written by F. K. North, one ol Canada's I o r e in o s t petroleum geologists, to Bill Dickie, Alberta minister of mines and minerals Mr North, a professor at Carleton University in Ot- tawa, said "by 1985. Canada's domestic production of conventional oil will, in all probability, be trivial. So more than two million barrels a dav ol domestic demand must then be satisfied either by tar sands oil. or by im- ports." He warned Mr. Dickie not to be hasty in allocating all oil trom the oil sands to U S. markets Mr Hurtig quoted from the letter following an address by Ian McDougall. a specialist in natural resources law at Dalhousie University in Halilax. to a group ot CIC members Mr McDougall. m an inter- view following his talk, said Canada's aim should be self- sufficiency in energy The export ol oil and gas must be reduced and ultimate- ly stopped il this country is not to put its own economic well-being into jeopardy, he said country has exported too much energy, too quickly lor too little." he said. The direct result of this policy is a pending energy shortage in Canada and high prices. He chastised Alberta for go- ing to bat lor the international oil mdustrv and (or not acting in the best interest of Canada Alberta is not a good Cana- dian it il allows, even encourages the export ot encrgv if this action jeopar- dises the welfare of the countrv. Mr McDougall said Monetary pact unlikely before LONDON (CP) There is little or no chance of agree- ment being reached on all ma- jor aspects of world monetary reform by the recently-set deadline of .July 31. 1974, says Canadian Finance Minister John Turner But it is essential that governments come to some accord on those areas of inter- national finance where ministers seem to be approaching a consensus, he added In an interview Wednesday with The Canadian Press. Turner said the issues which seem most likely to be settled within the next year include the manner in which exchange rates among currencies can be adjusted and altered in orderly ways as well as the future role of special drawing rights (SDRS) and gold But such matters as the restoration of the dollar's con- vertibility into gold or other assets and ways of liquidating dollar balances held abroad would have to await elimina- tion of the U S balance of payments deficit That might take several years. Turner said AGREES WITH BRITAIN "The committee of 20 (fi- nance ministers from 20 coun- tries, including Canada) will be meeting throughout the next year and it's my personal Iceling that at the final meeting in .July we should follow the British proposal ;md lock ourselves in a room until we come up with a reform package If Turner's prediction is ful- filled and an agreement on the areas he stipulates can be reached by July dead- line set by ministers at an In- ternational Monetary Fund meeting in Nairobi last it would be a con- siderable step forward in rebuilding the international finance structure Among other things, it would mean that the world's leading currencies would return to a system of fixed values in relation to each other as opposed to the current arrangement which leaves them free to fluctuate in response to market forces I would also involve an agreement among governments to change their currency values when some agreed indicator showed that these had become unrealistic BARS DISRUPTION7 The aim of such an accom- modation would be to prevent sudden shifts of investment capital when speculators believe a currency may be showing signs of weakness or undue strength. But Turner left open the question of whether Canada would be prepared to re-peg the dollar at a fixed rate as part ol a reform package after having allowed it to float for several vears "The agreement now being discussed makes provision for currency floating in some situations under the supervi- sion of the International Monetary Fund." he said, "and Canada can live with this kind of arrangement." Speculation among British of- ficials is that Canada has no intention of re-pegging the dollar in the near future Turner, who stopped in Lon- don for a Wednesday meeting with Anthony Barber, chan- cellor of the exchequer, said the role of SDRs as a primary reserve asset should also be settled by next July. These special drawing rights are a kind of paper reserve which are given a specified value and which take the place of gold as the central unit of value held by the world's central banks. National currencies, in turn, would eventually all be convertible by the central banks into SDRs FEARS EXCLUSION Turner said he planned to stress to Barber the concern ol Canada that it might be ex- cluded from any future mone- tary arrangement between the U.S. and the European Common Market. He said he was not particu- larly concerned that Canada had been excluded from the new formation of five big states-the U S Britain, West Germany, France and which will meet periodically during the next year in an effort to reach agreement structural reforms 'Run-down' 24 Sussex mansion gets facelift New job Maj.-Gen. Duncan A. McAlpine, who command- ed the Canadian group for its six-month stint on the Vietnam cease- fire commission, has been named chief of personnel development at national defence headquarters. UNDERGROUND MUSEUM TORONTO (CP) Metro's subway station at Avenue Road and Bloor Street may soon serve as an extension of the nearby Royal Ontario Museum. Officials at the museum have been conferring with TTC commissioners about Ihe possibilities of dis- playing museum articles in Ihe subway. It is hoped the station can be transformed inlo something similar to the Louvre station on the Paris subway where slalucs, pain- tings and oilier art works are displayed. By VICTOR MACKIE Herald Ottawa Bureau OTTAWA Installation of a self-contained apartment on the second floor of 24 Sussex, the official residence for Canadian prime ministers, is part of the general overhaul and renovation of the hand- some home now being carried out by the public works department The apartment on the upper lloor are three Moors not 'sel f- contamcd" in the sense that it does not have a separate entrance But il will have a small kitchenette set up there to provide living quarters apart Irom the downstairs area, a departmental spokesman said Thursday. Senator George Mcllraith. lonner minister ol public works in the years 1965 lo said the official residence had become run down" and needed con- siderable redecoration and renovation Close to is being s e n I this v e a r on i m provemenls to the kitchen facilities, on new rugs, on wall panelling and on modernizing the plumbing, according to the P W general program of redecorating has been em- barked upon, said (he P.W.D spokesman, lie said con- siderable work was being done on I he second floor ol the three-storey building to provide additional living lacil- ilies lor Mr and Mrs. Trudeau The apartment there will provide small, intimate living quarters lor the occupants of Ihe oilicial residence where they can retire lo have privacy A "picture window" is being installed lacing Ihe (ialincan Mills and the Ottawa River The apartment will also include small private din- ing quarters and the kitchenette complete with stove, refrigerator and pan- try. The 105-year-old grey-stone mansion, while a "beautiful home" also needed some changes to provide more mod- ern facilities for the accom- modation and entertainment of guests, said Senator Mcllraith. Me pointed out that the inte- rior plan of the residence, while suitable for a private lamilv. required some alterations to make il belter designed lor overnight guests. The Canadian government provides Hicleau Gate as a separate olf'icial residence for VIP guests of the gov- ernment It is across Sussex Drive Irom the prime minister's oflicial residence However there are oc- casions when the prime minister and his wile want lo have close friends or special guests slay with them at 24 Sussex, not at Rideau Gate. For occasions alterations were icquired lo make the official residence more adaptable to accom- modate such guests Work is also being done in Ihe quarters lor the lured help. MORE PHONES IN CHINA TOKYO (AP) China has extended telephone service to 9fl per cent of Us rural com- munes and even makes its own microwave equipment to relay communications, the New China news agency says. It adds thai 97 per cent of the production brigades under Ihe communes have regular mail, whereas before the Com- munist takeover m 1949. only coastal and inland cities had p o sIa I. telephone and telegraph service, Apologizes far actions Donald Segretti, right, looks over some papers during Wednesday's ses- sion of the Senate Water- gate Committee hearings in Washington. Segretti told the committee, "My activities were wrong and have no place in the American political sys- tem." Victor Sherman, Segretti's attorney, sits beside him. KISSINGER TO TRAVEL WASHINGTON (Reuter) Stale Secretary Henry Kissin- ger is expected to visit Europe in about two weeks, the state department said Friday. Centre Village ENTER THE FIRE PREVENTION WEEK POSTER CONTEST Sponsored by Centre Village IN PRIZES 1st 2nd 3rd In 7 Age Categories Kids 6 to 12 Bring your poster into the Centre Village Administrative office from October 8th to 13th. Posters will be judged by the Leth- bridge Fire Prevention Bureau and the Lethbridge Fiie Dept. Posters to be judged must be received by Wed., Oct. 10 p.m. 2nd AVENUE 'A' and 13th STREET NORTH The Mall That Has It Sears Tire and Auto Centre Sure-power starts when you need them Premium Extra Duty battery As low as 23 99 to 25 99 ars Reg. to A super buy! Unbeatable value1 Gives you more starting power for your dollar, thanks to the extra plate surface. A truly great ready to give you instant starts the minute you need them. 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