Canada hikes oil tax amid Alberta output cutbacks
Ottawa AP Canada imposes an additional tax of about two cents a gallon on all oil products as Alberta orders an immediate cut of 100000 barrels a day, with a three month average of 60000 barrels daily. The tax could rise if production cuts deepen, affecting 1.2 million barrel daily Alberta capacity and 90 percent of Canada’s oil supply. Premier Peter Lougheed had warned of the cutback amid Trudeau liberal energy policy.
MENTIONED IN THIS ARTICLE
Ottawa
Canada
Alberta
Marc Lalonde
House of Commons
Peter
Pierre Elliott Trudeau
Liberal Party
Lalonde
John Crosbie
Oil wells drill depths across numerous Texas fields
A survey of drilling activity lists operators and depths including Exxon at 4,684 feet and 12,803 feet, Arco at 9,712 feet, Getty Oil at 17,372 feet, and Texoma Production at 18,195 feet. Multiple operators such as Gulf Oil, Transcontinental Oil, and Texoma report progress, with casings set and tests underway across fields like SGV basin, Pecos, and Cedar regions.
MENTIONED IN THIS ARTICLE
COKE
Alford Petroleum
R.J. White
Crockett — Harrison Interest
Culberson
Exxon Corp
Delaware River Corp
Dawson — R.K. Petroleum
Classen
ECTOR
Jack N. Blair
West Ranch
Gaines — Arco Oil & Gas
Jones Ranch
Houston Oil & Minerals
Garza
Ike Lovelady
Mitchell — Sun Oil Co
McComb
Mitchell
Texoma Production Co
Rio Pecos
Reeves
Campbell Estate
Getty Oil Co
Ava Farwell Trust
Schleicher — Transcontinental Oil Corp
University
Terry — Allen K. Trobaugh
Cotton
Tom Green
William B. Wilson and Sons
Aldwell
Upton
Texas Oil & Gas Corp
Damron
Wildcat drilling plans target several Fort Worth and Pecos sites
Texland-Rector and Schumacher of Fort Worth will drill No 1 Guetersioh Trust a 5200 foot wildcat in Hockley County two miles northeast of Clavene. C F Lawrence and Associates of Midland will drill No 1 Cedar a 1700 foot wildcat in Pecos seven miles south of Iraan. Location specifics include lines from the respective survey sections and nearby fields. In other notes, Alberta’s oil levy discussions threaten higher taxes and potential compensation for eastern refiners as Alberta cuts affect fuel costs nationwide, and a separate item forecasts a shift in auto power paths toward engine to front axle by decade’s end.
MENTIONED IN THIS ARTICLE
Texland-Rector & Schumacher of
Fort Worth
Guetersioh Trust
Hockley County
Clavene
Labor 13
League 24
McCullough Csl
Surrey
Clavene Clearfork
C.F. Lawrence and Associates, Inc
Midland
Pecos
Iraan
J.M. Swisher
Henry Ford
Over the Counter Quotations and Bank Listings Note
Daily quotations from the National Association Security Dealers show inter dealer bids and prices. The text mentions First United Bancorp and Tipperary Land Colonies with references to Stewart and Stevenson and a 14 percent figure.
MENTIONED IN THIS ARTICLE
National Association Security Dealers
Saale Wawl First United Bancorp
MGFOU
Tipperary Land Colones
Stewart & Stevenson
Texas Power seeks 20.3 percent rate hike in Texas
Texas Power & Light will file a March 6 request with the Texas Public Utility Commission for a 20.3 percent systemwide rate increase totaling 197.9 million dollars. The company says current rates are too low for more than 700,000 customers and the rise averages across all customer classes. The average monthly residential bill would rise by about 12.35 dollars.
MENTIONED IN THIS ARTICLE
Dallas
Texas Power & Light
Texas Public Utility Commission
Bob Campo
Also Mentioned on This Page
SGV
Ward — Getty Oil Co
Gulf Oil Corp
O’brien
U.S
Ithaca, N.Y
Scottsdale, Ariz
Ford Motor Co
Texas Power
Kmart
E. Dell
Home Center
Bausch & Lomb
Soflens
NORTH
Our
East 42Nd
Grandview Odessa
Standyne
Wallurut Dalton
Chro
Brown
Sands Restaurant
Brown Jarrett
Ins
Joe Seay
Ralphealey
IC. Davis
Nicky Cruz
Agte Brewer
Chuck Lane
Morris Sheets
Harvest
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