24 Feb 1981
Page 1
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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Feb 24, 1981
Page
1
Oil industry leaders urge Alberta to accept a smaller revenue share if oil prices rise and call for a ceasefire in the Ottawa Alberta energy dispute. They warn production cuts could hit key companies and press Ottawa to modify NEP timed to boost Western Canadian petroleum supplies.
A Civil Guard faction led by Lt Col Antonio Tejero Molina tried to seize the parliament and restore a Franco era dictatorship. After 18 hours the coup failed, government and parliament members left the building amid cries of Long live democracy as hundreds of guardsmen dispersed.
Terry Fox, 22, remains in serious but stable condition at Royal Columbian Hospital after complications from the anti cancer treatment interferon. He was readmitted Friday night for observation and will stay in a private room with security at the door for further tests and monitoring.
The prime rate fell as low as 18.5 percent at Continental Illinois and some smaller banks amid weaker demand for business loans. Major banks cut to 19 percent or held at 19 5 percent as economists expect further declines amid likely easier credit conditions from the Federal Reserve.
Secretary Haig called the Soviet overture for talks hopeful, noting new elements in Brezhnev’s Moscow speech. French Foreign Minister Francois-Poncet described a readiness to dialogue and a possible disarmament conference in Europe while White House officials urged caution. In Moscow Brezhnev offered to renegotiate arms deals and discuss Afghanistan as part of broader demilitarization talks.
Alberta Energy Minister Merv Leitch announced a first cutback of 100000 barrels a day with a plan to reach 180000 barrels daily by September 1. He said the move aims to pressure Ottawa to alter energy policy and pricing while the province can ramp up production if needed.
Canadian Labor Congress staff representatives vote 25 to 1 in favor of strike action as early as March 3 if no settlement is reached. The group serves about 100 unions nationwide and insists the vote is a bargaining tactic while negotiations with CLC President Dennis McDermott resume.
Buckingham Palace announced Prince Charles and Lady Diana Spencer are engaged with a sapphire and diamond ring. Diana, 19, will become Princess of Wales after a likely July wedding at Westminster Abbey, ending months of romance speculation.
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