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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 13, 1974, Lethbridge, Alberta Saturday, October 12, 1974 THE LCTHBRIDQE HERALD -21 Newf ie oil battle slow TORONTO (CP) New- foundland appears to be mak- ing little progress in its battle with Ottawa over offshore oil rights, a Newfoundland government official said this week. R. W. executive- director of the Newfoundland Offshore Petroleum Industrial Advisory Council, said his province is concerned primarily with management of its resources and not just revenue from the develop- ment of them. "I don't think we're making much headway with our argu- Mr. Emberley said in an interview.' The federal government views the province's resources as an end, in themselves, rather than a means to an end, he said. Newfoundland's offshore potential, particularly the Labrador shelf, shows promise of becoming a major oil and gas producer. Most companies take out both federal and provincial permits on the acreage that interests them. "Anybody could, and did, walk in off the streets and take out a federal offshore acreage Mr. Emberley said. "You had up acreage and releasing it at inflated prices." "They (Ottawa) have granted permits on the whole 300-odd million acres with very little restriction over who took them up or what they had to do to earn them." In contrast, Newfoundland had granted permits on only about one-third of the acreage, and they are inserting clauses stipulating preference for Newfoundland labor and production.. The council is determined that any future developments will consider the effects on secondary industry, building up such spin-offs as pipe manufacturing, metal fabrication, marine studies and construction of semi- submersible drilling rigs. Cattleman suggests U.S. beef giveaway KANSAS CITY (AP) country-wide beef giveaway program for needy people was proposed this week as a poss- ible solution to an oversupply of cattle on United States farms and ranches. Marshall McGregor, the president of the Missouri Cat- tlemen's Association, said at a regional beef seminar a giveaway of one per cent of all cattle in the U.S. would reduce the beef glut and help the industry's poor public im- age. McGregor, a rancher from Richland, Mo., said the give- away program, which could involve as much as IVz million head of cattle, would help cor- rect the cattle industry's de- pressed market. He also called for banning beef imports to protect domestic cattlemen during the beef glut. The regional seminar, one Schwartz Agencies (1972) Ltd. Congratulations to the Lelh- bridge Fire and Police De- partments for their fire pro- tection work during this Fire Prevention Weak and throughout the whole year. Roy Ctotand puts out .fires by cooling not real estate btems and he has doused the names so often lately that he is our top rep. for the Third Quarter of 1974 Help our Firemen by being conscious of fire problems. If you need a real estate pro- blem solved, call Roy or his cool, professional team mem- bers at the firefighBng "Action Agency" ai 329-3331________ of four sponsored by the U.S. agriculture department, is a gathering of beef industry leaders, agricultural exten- sion' -specialists and farm credit executives. McGregor said his proposal to dispose of the cattle within 60 days would counter the poor public image created by re- cent threats by cattlemen to shoot calves in protest against current conditions. Cattle market experts said during the seminar that ranges are overstocked with cattle but the herds appear to be continuing to grow as cattlemen hold back in hopes of better prices. "My idea is aimed at reducr ing those cattle McGregor said. "We-could give away this beef and take our losses this year and then begin to turn around this market." McGregor said he and other Missouri cattlemen are organ- izing a small giveaway pro- gram this week in the Springfield, Mo., area and will give beef to the elderly and to orphans' homes in southwestern Missouri. Prices Jump Airframe builders plug 'buy Canadian9 CHART REVEALS WESTERN GAS PRICE LOWER Prairie fuel cheapest for gas-gulping autos Bank lowers interest rate NEW YORK (Reuter) First National City Bank, the second largest bank in the United States, said that effec- tive Monday it is lowering its prime interest rate to HMe per cent from 11% per cent. The move is the first by a major bank to this level, the lowest the prime rate has been since mid-May-of this year. ENROLMENT JUMPS During the decade between 1962 and 1978, enrolment rose to two million from 1.4 million in private colleges. The number of students in public colleges jumped to 6.3 million from 2.8 million. CANADIAN PRESS If you want to drive a gas- gulping monster, New- foundland is not the place to be this winter. But if you like to keep your hqmeat tem- peratures through the winter, another eastern province, Nova Scotia, will be the least expensive. A cross-Canada survey by The Canadian Press shows Newfoundland still has the highest gasoline prices in the country. Newfoundlanders pay up to 81.9 cents a gallon for premium cents more than motorists in Manitoba and Saskatchewan, which now have the lowest prices in the land. The survey shows Nova Scotia has the lowest fuel soil cents a gallon, thanks to a provincial govern- ment subsidy of 3.1 cents on every gallon. During the last 12 months, gasoline prices have increas- ed about 10 cents a gallon while fuel oil increases ranged from 8.9 cents a gallon in Manitoba to 1.1 cents in New- foundland. Oil companies say it is diffi- cult to predict whether further price increases can be expected during the year. But one major cause of higher consumer prices, in- creases in the cost of crude oil, has been restrained under a federal-provincial agree- ment reached last March. The agreement sets the price of domestic crude oil at a barrel and any exports to the United States are sub- ject to an export tax covering Savings accounts closed DETROIT (AP) The Michigan National Bank of Detroit will close all savings accounts with balances tinder starting next week because of rising handling costs, bank officiate said. "Close to a quarter" of the bank's saving'account holders now have less than ISO on deposit, said Michigan National president George Pierson. ASTRO REALTY and DAVE NEUFELD TOM SELNES Mr. Henry Krahn and Mr, Ben Reimer of Astro Realty and Insurance Ltd., are pleased to announce the following appointments: Mr. Dave Neufeld has been appointed to the position of Sales Manager of Astra's Real Estate Division. Dave has 14 years experience in the sales and management field and would invite his many friends and customers to call an Astro Realtor for any of their real estate needs. Mr. Tom Seines has been appointed to the position of General Manager for the Insurance division. Tom will be handling a complete line of General, Life, Rre, Auto and Bonding Insurance. Tom is very experienced in the field and invites his many friends and customers to give him a call at 328-7748 for any of their insurance needs. the difference between domestic and world prices. Revenue from the export tax is used to subsidize cost of oil bought on the world market for use in Eastern Canada east of the Ottawa Valley. Energy Minister Donald Macdonald said the program would absorb a recent 33-cent increase in tax and royalties charged by members of the Organization of Petroleum Exporting Countries. Deputy Energy Minister T.K. Shoyama says there are no plans at present to increase the set price for domestic crude. Any changes would be subject to discussions between the federal govern- ment and the provinces. Across the country, the price situation looksJike this: NEWFOUNDLAND: In St. John's, regular, gas- oline sells for 75.9 cents and premium for 81.9, compared with 66.9 and 70.9 a year ago. Over the same period, fuel oil prices increased to 33 cents a gallon from 31.9 cents. PRINCE EDWARD ISLAND Regular gasoline is selling for 70.8 to 72 cenfs a gallon and premium from' 75.9 to 77.1 cents. Last year, a gallon of regular gasoline cost 62.5 cents and premium 67.5 cents. NOVA SCOTIA Halifax residents now pay between 65.9 and 67.2 cents a gallon for regular gasoline and 70.9 to 72.2 for premium, up from 61.4 and 66.4 cents a year ago. Fuel oil .costs 31.7 cents, including a 3.1-cent sub- sidy scheduled to'expire Dec. 31. Last year the price per gallon was 27.5 cents. Under Nova Scotia law any company seeking to raise its oil or gasoline prices must get approval from the provincial utilities board. NEW BRUNSWICK Prices range between 63.9 and 71.9 cents a gallon for regular gasoline and 68.9 to 77 cents for premium. Last year prices ranged between 58.9 and 63 cents for regular and 63.9 and 68 cents for premium. Homeheating fuel prices this year vary from 34 and 38.9 cents a gallon, up from 30.5 to 32.8 cents last year. QUEBEC Regular gasoline sells for a minimum of 58.9 and a max- imum of 70 while premium gasoline prices range between 65 and 75 cents a gallon. Last year, prices were 56.9 to 60.9 cents for regular and 61.9 to 65.9 for premium. Heating oil prices this year vary between 35.6 cents and 36.5 cents, up from 28.4 cents last-year. ONTARIO In Toronto, regular gasoline was selling in the to 69.9 cents a gallon range, and pre- mium gasoline between 73.9 cents and 74.9 cents. Last year regular gasoline sold for be- tween S4.9 cents and 56.9 cents, premium for about 62 cents. Fuel oil price this year in Toronto is 34.4 cents, op from 26.9 cents last year. MANITOBA In Winnipeg, regular gas- oline is selling for 60.9 dents and iHemium for 65.9 cents at outlets of major oil com- panies. Some discount outlets sell regular gasoline for as low as 54.9 cents a gallon. Last year, regular gasoline was selling at 55.5 cents and premium at 60.5 cents. Heating fuel this year costs 33.2 cents, a hefty increase from 24.3 cents a year ago. ALBERTA Regular gasoline in Ed- monton sells for 61.9 cents a gallon and premium 66.9 cents, op from for regular and 59.9 for {iiviuiuiu last year. Most homes in the city are heated by natural gas and the distributor, Northwestern Utilities Ltd., has applied for an unspecified rate increase. BRITISH COLUMBIA In Vancouver, regular gaso- line sells for 67.9 cents and premium for 72.9, compared with 55.9 and 61 cents last year. Heating oil now costs 34.2 cents a gallon, an increase from 26.8 cents last year. SASKATCHEWAN In Regina, prevalent price for regular gasoline is 60.9 cents.a gallon and premium 65.9, up from 51.5 cents and 56.5 cents last year. Fuel oil costs 33 cents a gallon, com- pared with 24.5 a year ago. MONTEBELLO, Que. (CP) A proposal to keep the air- craft industry airborne through a strong "buy Canadian" policy was outlined this week by David Mundy, president of the Air Industries Association of Canada. Mr. Mundy told reporters at an association conference here that airframe builders like de Havilland and Canadair must continue to operate at its present level of at least 46 per cent of capacity to be successful. This calls for government decisions supporting produc- tion of the DHC-7 and requir- ing heavy Canadian benefits from American firms in ex- change for buHding the military long-range patrol air- craft It is understood government representatives at the confer- ence were told Wednesday that the aircraft industry should get benefits amounting to million from the billion LRPA project. The association president said that Air Canada should also seek benefits for Cana- dian industry when buying air- craft from foreign companies. This should amount to 25 per cent of the value of purchases with two-thirds of this business going, to airframe builders. The aircraft industry includes airframe. firms who construct aircraft bodies, avionic'-manufacturers who make sophisticated electrical and navigational equipment companies. Mr. Mundy said the associ- ation will develop proposals from the Wednesday conference with government officials and present them later to federal cabinet ministers. The association president also described the government's research and development efforts as "scan- dalous." Despite a federal policy to aid research in in- dustry, most work was still done in government labora- tories. He denied that foreign own- ership of some Canadian air- craft companies was a prime reason for lack of research. He told the conference earlier that the association favors government purchase of foreign-owned aircraft firms provided the industry is strengthened and the com- panies later sold to private Canadian interests. The government acquired de Havilland from Hawker Siddeley of Britain this summer and is negotiating to buy Canadair Ltd. of Montreal from General Dynamics, an American company. The government has said the air- frame companies will later be sold as a package to private groups. The industry will need a new small commercial jet project to follow the 48-seat DHC-7 and a new fighter plane pro- ject within the next 10 years, Mr. Mundy said. This was part of a long- range program outlined to government officials at the Wednesday meeting. Housing complex eyed for Point Roberts 'VANCOUVER (CP) A United States development owned by two Vancouver 'brothers is planning a million housing complex for Point Roberts, Wash. The project has been held up for two years while an Inter- national Joint Commission, composed of three Americans and three Canadians, looked into problems caused by the geographic isolation of Point Roberts, cut off by land from the rest of the state. The Peninsula is about 25 miles from Vancouver. The LIC had proposed a 000 square mile park that would include most of the 100 acre peninsula and parts the Gulf and San Juan Islands. The plans were abandoned due to widespread public op- position. The development company, Pacific and Western Equities Co. Ltd., is owned by Bob and Ed Wallace. They plan a retirement complex that would take up more than one half the The complex, expected to take five years to complete, would increase the Point Roberts population from to people. Many residents are Canadians who own recreational property in the area. Bob Wallace said the firm would go ahead with the plans although the iand might have to be banked for a year due to the current economic situation. LJC member Keith Henry of Vancouver said the board could do nothing to stop the development. "It's an American problem and there's nothing anyone in Canada can do about he said. "The LJC does not have the power to impose solutions." GUARANTEED CERTIFICATES 70i Street LOTnBvMHQ He said'a proposal that a joint working group be set up with the government to continually review this long- range program has not yet been accepted by federal of- ficials. But Industry Minister Alastair Gillespie had shown interest. Employment in the entire aircraft industry now is about about the same as the last two years. This is sharply down from the 1969 level of when the industry went into a sharp economic decline. The LRPA is to replace the Argus reconnaissance air- craft. The Boeing and Lockheed aircraft companies have been asked to bid on the contract, and the contract is expected to be awarded at the turn of the year. OIL DEAL SIGNED TEHRAN (AP) The United States oil company, Ultramar, has signed an agreement with the National Iranian Oil Company for ex- ploration and development in the southern Iran. Under toe agreement, Ultramar paid million cash and com- mitted itself to another million minimum exploration expenditure over five years. H. H. Smith Ltd. Customs Broker COUTTS Office Pfcone 344-3822 SALESMAN OF THE MONTH DON CARROLL Mr Dave Neufeld. Sales Manager 'of Astro Realty is pleased to announce that Don Carroll was Salesman of 4he month for September, 1974. For any of your real estate needs give Don a call at 328-7748 or 327-4194 ASTRO REALTY ml ltd. LAST ON THE BALLOT SHEET. FIRST TO SPEAK UP FOR CITIZEN'S NEEDS? ELECT TO COUNCIL A MAN WHO LISTENS. UNDERSTANDS THEN ACTS. VOTE TOBIN, Tony THANKYOU CommtttM to Elect Tony Tobin FOR SALE DUPLEX 1506-1508 29th Strati South Possession November 1st live in one side collect on the other. Two bedrooms, large living room and kitchen. 950 sq. ft Dving area on each side. Full basement Fenced and landscaped. Priced to sell. Call us to view. Owner open to any reasonable offer. Sckyrte ScBH S27-7W1 CANADA TRUST Realtor 327-tSt! ;