Word: canadians
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Dates: during 1970-1979
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Clark's dramatic downfall took place over a classic bread-and-butter issue: the budget. At stake was an austerity program that had been outlined two days before by Finance Minister John Crosbie. The program's goal was to raise an extra $3.5 billion in Canadian tax revenue in order to move toward full energy independence for Canada by 1990. Unfortunately, it was not as simple as it seemed. Crosbie's budget called for whopping tax increases on gasoline, heating oil and alcohol, and a 5% surcharge on corporate taxes. The gasoline tax alone would be increased...
...since the Airbus A310 was introduced. Among the reasons: Airbus is more fuel efficient than the 767 for trips under 500 miles and better suited to shorter European distances. Except for the planes that it sold to Eastern two years ago, Airbus has yet to crack the U.S. or Canadian market. The battleground is spreading to the Middle East and North Africa, but with an astonishing backlog of almost $20 billion in orders, Boeing is still way ahead...
Surveying the skyline of Calgary, where 29 huge construction cranes are climbing atop new office towers, Canadian Novelist Mordecai Richler observed: "That's going to be a helluva city when they get it uncrated." In Edmonton, 180 miles to the north, Ford has sold hundreds more Thunderbirds than usual this year. Boasts Dealer Ryan Taylor: "They can't give those gas guzzlers away south of the border, but they are going like crazy up here." Around the town of Medicine Hat, where 1,700 oil and gas wells have been drilled in the past year, Canadian, British...
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...
...presence of some 60,000 Americans in the area, the 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...