Word: alberta
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
These two fields, plus strikes in the surrounding area, add up to one of the major North American oil developments in recent years. Alberta's known reserves are generally estimated at a billion barrels, its potential as high as five billion. If it should prove to be five billion, Alberta might eventually rival west Texas, today the biggest oil-producing area in North America...
Money to Spend. During the 50 years before Leduc was brought in, $150 million was spent on oil exploration in Alberta. This year $100 million will be spent; next year the figure will probably reach $150 million...
...Alberta, the oil boom has meant the greatest golden harvest in the province's history. From fees, rentals and royalties (the province owns most mineral rights), the government last year got 20% of its total revenue...
Mountains to Climb. Because Alberta has not yet solved the problem of where to sell the oil, it has more of an explorers' than a producers' boom. The province's 890 wells already have a capacity of 100,000 barrels a day, and are expected to up this figure to 300,000 by 1951; but they are actually producing only about 60,000 barrels daily, enough to meet the needs of the prairie provinces. As fast as wells are brought in, they are being choked back...
...Rockies bar Alberta oil from British Columbia; rail rates are too high, and the demand for oil does not justify the high cost of building a pipeline across the mountains. Similarly, the high cost of transport tends to bar Alberta oil from the Ontario and Quebec industrial areas, which are supplied by pipelines from the U.S. and tankers from the Caribbean and the Middle East. Thus the fields' natural market is the oil-hungry U.S. Midwest, which can be reached easily from Alberta...