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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 18, 1973, Lethbridge, Alberta Gov't billed for million Thursday, October is, 1973-THE LETHBRIOGE Israeli prisoners Egyptian soldiers stand guard over a group of Israeli prisoners of war some- where in the Sinai, in this photo released by Egyptian sources. The last Israeli strong- points on the eastern bank of the Suez Canal, surrendered Saturday and 37 tired and bedraggled Israeli troops were paddled across the canal to captivity. Gasoline price hike hinted By ALEX CHANCELLOR LONDON (Reuter) The demands by Persian Gulf oil states for a big rise in the price of oil seems certain to increase the cost of gasoline to the Western consumer and to hamper the efforts of in- dustrial countries to curb inflation. But the major oil companies were themselves having diffi- culty in estimating the exact financial implications of the unilateral price increases de- cided in Kuwait by ministers of the six Persian Gulf states. According to reports from Kuwait, the ministers agreed on a new pricing system which would effectively increase the "posted" prices of crude oil by 66 per cent The "posted" price is an artificial price on which are calculated the royalties and taxes paid by the oil com- panies to oil-producing states for the oil they extract. The Persian Gulf states in fact announced only a 17-per- cerit rise in the market price of crude oil, which is the price at which the oil is actually sold to customers. ROYALTIES RISE But by demanding that the "posted" price should in future be fixed some 40 per cent higher than the market price, they insured that the oil companies would in fact have to pay at least two-thirds more in royalties and taxes, oil company sources said. Under recently negotiated participation agreements, the Persian Gulf states already market directly a proportion of the oil extracted in their territories, with the rest going to the oil companies. Oil company sources said the effect of the new demands would apparently be to bring roughly into line the amount received by the country for the oil it markets itself and the amount received for the oil it gives to the oil com- panies. The royalties and taxes paid by the companies would thus be roughly equivalent to the new market price of per barrel announced by the Per- sian Gulf states. Oil company sources esti- mated that this could mean an increase of between one to two cents per gallon of crude oil They said it was too early to calculate how much of this in- crease would be passed on to the motorist, but for countries in Western Europe and Japan, which are heavily dependent on Middle East oil supplies, the price increases were ex- pected to have important economic consequences. Oil, for example, comprises about 10 per cent of the total value of British imports, and a big increase in its price could have a marked effect on Brit- ain's balance of payments, which is already running a large deficit. The efforts by many Western countries to control inflation would also suffer a setback'if there were a large increase in the cost of such an essential raw material. FOR CENTURIES, THE SPANISH HAVE ENJOYED A BLEND OF ROBUST RED WINE AND CITRUS FRUIT WHICH THEY CALL SANGRIA NOW YOU CAN ENJOY THE SAME SUNNY FLAVOUR IN GRANADA ALWAYS REFRESHING. SERVE WELL CHILLED OR OVER ICE WITH SLICES OF CITRUS FRUIT. CHALET WINES LTD., CALGARY, ALBERTA, CANADA. Nixon home spending upsets Congress WASHINGTON (CP) When it comes to protecting the life of the president of the United States, the general at- titude has always been to spare no expense. But when "security" costs included extensive land- scaping, an ornate fence and outdoor lighting, even a heater for the swimming-pool and bigger windows for the den all this for a home that is the president's private property Congress was bound to get upset. Both Democrats and Republicans are calling now for a new look at the question of unlimited spending of public money for the private homes of American presidents, or at least for some controls on such spen- ding. A House subcommittee has been holding public hearings into the use of public money for President Nixon's per- sonal estates in San Clemente, Calif., and Key Biscayne, Fla., and at any other time they might have attracted considerable attention. But at a time when the vice- president has just resigned under a cloud and the ad- ministration's ethical stan- dards have been under attack for months, the subcommittee hearings have received little notice Testimony heard by the committee disclosed the federal government has been billed for S10.2 million to im- prove, maintain and operate Nixon's private homes and their surrounding in his seven years as president The figure does not include costs for the two government- owned residences at the president's disposition, the White House and the retreat at Camp David, Md. Operating costs for Camp David are reported to have quadrupled since Nixon took office, rising to an estimated this year from in 1968. Jack Brooks, a Texas Democrat whose subcom- mittee has been looking into the expenditures, sajp the in- quiry has raised "serious questions of propriety." He wants changes made in the wav such spending is handled At present, the Secret Ser- vice and the General Services Administration GSA are charged by law with protecting the president The Secret Service normally decides what needs to be done and bills the government. In the case of San Clemente, however, the subcommittee heard testimony that the president's personal lawyer and personal architect, Herbert Kalmbach and Hal Lynch, had ordered changes and additions, then sent the bills to the government MAZDA ROTARY The answer to the fuel consumption problem. The next move is yours. r Take home two of your favorite artists for the Price you might expect to pay for one! UIM NABORS EACH RAYCONNIFF Impossible Dream SOlEWHERE JIM NABORS Somewhere My Love H JUDGEMENT DAY EXPRESS ORVAL PROPHET Judgement Day Express DICKDAMRON Country Field FtrerNtro Love Story ANDRE KOSTELANETZ Godfather TIII. vi vi I.KII iimiTiiriis TAMMY WYNETTE Matter of time PETER NERO Love Story STATLER BROS. How Great Thou Art TOMMY Dorsey Beat Of Big Bands JUD STRUNK Mr. Bojangles BANJO BARONS Dueling Banjos CHARLIE RICH Do My Swinging At Home SAVE on Harmony Records Records Bar Second Floor Shop Tonight (Thursday) Until 9 and Friday to Use Your Eaton Account Credit Terms Available EATON'S ;