16 Dec 1980
Page 1
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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Dec 16, 1980
Page
1
The OPEC cartel boosted base prices by 2 to 4 dollars a barrel and raised the maximum price to 41 dollars. Saudi benchmark climbs to 32 dollars, with other members at 36 dollars, amid Iran Iraq war tensions and Suharto urging a quick peaceful settlement.
Ottawa decided not to raise the export price of natural gas on March 1 to reflect a new tax from the federal budget. The lapse in U S notice keeps western producers to the current price while a 30 cent per thousand cubic feet tax applies from Nov 1. Ottawa will review the matter monthly, amid industry opposition and a court challenge from Alberta arguing the tax oversteps provincial rights.
Harland Sanders founder of Kentucky Fried Chicken died at 7 40 a m EST in Louisville after pneumonia set in while hospitalized for leukemia and kidney bladder infection. He was 90 and had entered Jewish Hospital on November 7 for treatment.
In Gdansk and Baltic cities unions and the Communist party urged calm during a two day observance of 1970 deaths in food price riots. Solidarity and Trybuna Ludu called for reflection and order while a monument at Lenin Shipyard was dedicated.
In Vancouver union leaders map strike details if Air Canada attendants vote to walk out starting Friday. About 3,100 attendants began balloting Sunday with results expected Thursday. The union backs the conciliator’s wage offer but seeks a two year contract and warns passenger service could drop if strikes occur.
The Canadian dollar falls to 82.51 cents US in early Montreal trading after closing at 82.71 and 82.61 on Monday. Traders cite Bank of Canada rate lift to 16.14 percent, US firm payments, and political energy debates as key factors. US banks raise prime rates to 21 percent, signaling tighter credit amid recession fears. Morgan Guaranty says rate reflects funding costs. banks follow suit.
Alderman Jim Hirsch announces the proposed courthouse site on the north side of First Street is excluded due to the new city hall and cultural centre taking space. A letter will be sent to the province to seek an alternative site as talks since last summer have not produced an agreement.
Council approved a 13.7 million borrowing bylaw for a new city hall, with 9.6 mills expected to raise taxes the first year. The total project cost stands near 15.9 million, financed partly by 2.2 million in provincial debt reduction funds and the rest by AMFC debentures.
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