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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - October 22, 1974, Lethbridge, Alberta 12 THE LETHBRIDGE HERALD TlJMNtay, OctOBtr 22, 1974 Macdonald says it's no-go Ottawa cool to energy plan OTTAWA (CP) Energy Minister Donald Macdonaid Monday rejected suggestions from the United States for a broad treaty covering mutual supply of all forms of energy. "It's no-go as far as we're the minister said in an interview. Suggestion for the treaty last week from John Nassikas, chairman of the U.S. Federal Power Commission. He said the agreement could cover exchanges of crude oil, coal, natural gas and electric power and possibly other com- modities. But the suggestion brought a cool response from Ottawa. "There are no advantages for Canada in an all- encompassing commitment on Mr. Macdonald said. "We've rejected such suggestions in the past." Mr. Nassikas made the comments while talking about cur- rent negotiations for a treaty ensuring security of pipelines running through the two countries. He suggested the treaty could be broadened to consider other exchanges. Federal officials have said in the past that an agreement such as the one proposed by the FPC chairman could commit Canadian supplies to meeting increasing energy shortages in the U.S. Mr. Macdonald said agreement on future exports could be reached in specific circumstances where the U.S. ex- perienced a shortage and Canada had oil surplus to domestic needs. A similar circumstance exists now, where oil surplus to do- mestic needs is licensed for export by the National Energy Board. "But I think you'll find in future that the regime will be the minister said in discussing those exports. Mr. Macdonald has said several times in recent months that the combination of increasing domestic demand and falling production in the western provinces will lead to a dwindling of those exports. "They could be reduced to a trickle by 1980, but I can't be more specific at this he told reporters Monday. He said he is awaiting a report from the National Energy Board on oil supply and demand. The results of that study are expected to be released before the end of the month. European, U.K. bid preferred LONDON (CP) Regional Expansion Minister Don Jamieson said "Monday the Canadian government likely would favor a British or Euro- pean takeover bid over a United States investor in accepting foreign investment proposals in Canada. He told a news conference that in scrutinizing invest- ment proposals under the Foreign Investment Review Act, national origin "could very well be a factor, all other things being equal." Country Wide Homos is pleased to announce the appointment of MR. LEN BURBANK as Sales Representative for our Lethbridge location. Len has a considerable amount of business and sales experience and is well proven in the community. Len looks forward to meet- ing all his friends and new acquaintances and will endeavor to assist you in your housing requirements. Leaders confer Prime Minister Pierre-Elliott Trudeau, left, of Canada meets President Valery Giscard d'Estaing of France at the Elysee Palace Monday during an official visit to Paris. Gov't blocks sale to prevent rivalry within oil company OTTAWA (CP) The federal government blocked the sale of shares in a northern exploration company to a Quebec government agency to forestall interprovincial rivalry within the company, Energy Minister Donald Macdonald said Monday. The minister confirmed a report from Bow Valley In- dustries Ltd. of Calgary that the government 'had blocked the sale of 2.2 per cent of Panarctic shares to Societe Quebecois d'Initiatives Petrolieres Soquip. The federal government owns 45 per cent of the shares in the company, set up in 1966 to explore for oil and gas in the Arctic. Remaining 55 per cent of the shares are held by private industry. Because of the wide range of implications involved and the short time available to consider the'matter, the federal government decided to block the sale, the minister THANK YOU FOR YOUR SUPPORT! Now, it is my privilege and duty to serve YOU, the people of Letnbndge. W.R. (Bill) Cousins said. The federal government considered the possibility that other provinces would be interested in buying into the company if the Soquip deal had gone through, the minister said. That could have led to interprovincial rivalry within the Panarctic board. One area of competition, he said, could be the route of a possible pipeline to carry petroleum products from the Arctic to markets in the south. TWO ROUTES PROPOSED Two routes have been proposed for such a one down the east side of Hudson Bay through Quebec, the other down the west side of the bay through northern Manitoba and Ontario. Bow Valley had offered to sell its 2.2 per cent of the shares to Soquip for million in cash. Mr. Macdonald said the federal government is willing to discuss the broader issue of provincial government in- volvement, but "did not want to be stampeded" at this time. "We don't want to close the door for all the minister said. "There has been a want of mutuality on both sides." Mr. Macdonald said the federal government has been "frozen out" of some provin- cial enterprises, but when ask- ed to be specific replied: "Ask Alberta or Quebec." "The premier of Alberta has said he welcomes invest- ment from other provinces in energy, but he seems to be careful not to include the federal government in his statements." Writing system to be studied OTTAWA