21 Jun 1977
Page 1
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Newspaper
Medicine Hat News
Location
Medicine Hat, Alberta, Canada
Date
Jun 21, 1977
Page
1
Ottawa ends five year moratorium releasing over one billion acres in the north and offshore for exploration and development. Petro-Canada gains a flexible share in renewals tied to Canadian ownership, while profit-sharing rules expand exploration and adjust existing lease applications.
Premier Peter Lougheed of Alberta left Jidda after a Saudi visit hailed as highly successful. He met King Khaled and Crown Prince Fahd, discussed energy prospects, and explored Canadian participation in oil tech, education, and agriculture with Oil Minister Yamani and other ministers. Saudi crude supplies about 20 percent of Canada’s imports. Alberta tar sands may hold roughly 250 billion barrels with proper tech. Canada reviews global energy prospects with Saudi Arabia and others before full exploitation.
Saudi Oil Minister Yamani said 11 OPEC members will forgo the planned five percent price rise due July 1 until ministers meet in Stockholm next month. He cited a letter from Venezuela and noted Saudi Arabia and the UAE will announce their own decision at the meeting.
Hat Development Ltd. outlines steps for an 8.3 acre mall north of Southview Mall featuring Alberta's largest Safeway and a large Canadian Tire store with four rental units. A 1,000 unit subdivision on 286 acres east of the mall is planned pending a city general plan and Hudson Bay mall decisions. Mayor Grimm says the plan should be approved by July.
The trans-Alaska oil pipeline started carrying oil from Prudhoe Bay with minor leaks at Pump Station No 1 but no major problems. Manager Mike Jens said startup quirks include fittings needing tightening as the oil begins to move through the system.
The Canadian dollar fell to 0.9435 US after a midafternoon dip to 0.9434, opening at 0.9454 as traders cited a lack of buyers. Elsewhere, oil flowed into the Alaska pipeline into Valdez after a lengthy delay, with the project hailed by Alaska officials and politicians amid decades of environmental debate and congressional action.
Diplomatic sources in Cairo said President Idi Amin of Uganda is alive and well and conferred with his finance minister on Monday. They rejected reports that Amin had been killed or wounded and said Amin met with Ugandan officials.
The Arab League commission enforcing the economic boycott of Israel said it would suspend shipments of raw materials from 20 Arab states to any firm on its blacklist. It added six US companies and seven firms from Asia Africa and Europe to the list, removed ten, and cleared 47 of suspected violations. The action details and implementation remain unnamed.
Prime Minister Trudeau shields Jean-Pierre Goyer in a Commons clash over whether the 1972 illegal raid on lAgence de presse libre in Montreal was covered up. He says neither he nor Goyer knew of RCMP involvement and trusted RCMP explanations. Debates focus on blame, potential suppression of evidence, and calls for action.
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