Word: alberta
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Dates: during 1970-1979
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Welcome to booming Alberta, the Texas-size province that contains roughly 85% of Canada's proven oil and gas reserves, half of its coal, some major untapped hydropower sites, and vast, oil-bearing tar sands...
Under the Canadian constitution, these mineral rights belong to the provincial government. So Alberta, rather than the national government in Ottawa, has gleefully collected the rewards of gushing oil and gas prices. The province takes an average 43% cut for oil and 33% for gas from the energy companies' local production revenues, and its royalties surged from $1.3 billion in 1974 to $4 billion this year. Coveting more of this wealth for themselves, many Canadians outside the province call Alberta "OPEC North" and refer to its leaders as "blue-eyed sheiks." After traveling throughout the nouveau riche province, TIME...
...largest ethnic group is German. This is Canada's fastest growing large city. In the past five years, 20 foreign banks have opened offices in Calgary, and last June the Bank of Montreal became the first major Canadian bank to move its chairman, Fred H. McNeil, to Alberta. Says he in his Calgary office: "The time of the West has come...
Calgary is already the headquarters for 483 of the 587 oil and gas companies that have main offices in the country. It is not hard to spend $250,000 for a four-bedroom house, but heating bills in Alberta average only $27 a month, and gasoline sells for 53? a gal. Thanks to energy royalties, Alberta is Canada's only province with no sales or gasoline taxes. Its property and income taxes are the lowest of any province; for a family of four earning $17,000, the overall tax burden is $912 a year, vs. $2,130 in Quebec...
Committee members also recognized another potential problem that never arose--displacement of staff when the committees merged. Alberta Arthurs, the former dean of Radcliffe admissions and currently president of Chathan College in Pittsburgh. willingly transferred to the newly created position of dean of undergraduate affairs. L. Fred Jewett '57, former dean of Harvard admissions, became dean of the combined office...