Word: leduc
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First Tide. Since 1947, when Imperial Oil, Ltd.'s Leduc No. 1 gushed from a snow-covered Alberta plain, 45 new oilfields have been spudded in across the province. Portable derricks, lumbering over the land like giant steel giraffes, have drilled more than two new wells a day. More than 300 million U.S. dollars, one of the freest and fastest streams of American private capital ever sluiced into a foreign country, have been invested in Alberta oil. Reserves of 2 billion bbls. are already proved, and experts say that that is only the first tide from a great oily...
Full-fledged towns such as Redwater (pop. 3,600), Leduc (pop. 1,500) and Devon (pop. 2,400) have mushroomed in the countryside. Pipelines crisscross the grainfields; grazing cattle placidly drink out of the safety pools around burning-off oil wells. Oil exploration teams roam tirelessly on the rolling, almost treeless prairie of the south, among the mixed farms and forests of mid-province and through the wilderness of northern woods and lakes. The brisk, winy aroma of prosperity...
Taken together, the two wells led some geologists to believe the basin might hold a big new oil pool. They think it may hold as much oil as Canada's fabulous Leduc pool in Alberta. But no one will know the size of the field until many more wells are drilled. Wall Streeters are not waiting. On the New York Stock Exchange, Shell Oil common jumped six points in four days to 64, the year's high, while Northern Pacific climbed five points to 47⅜, highest in 20 years...
...Alberta's good fortune, but Albertans gave him credit for making the most of it. In the 1944 election, they returned Manning's party to its alltime high of 51 legislative seats. Just when the war boom began to peter out, the great new oilfields at Leduc and Redwater surged in. Manning smothered the opposition with another landslide...
...spend some of his money. It has six new restaurants, a poolroom and bowling alley, three movie theaters. It also has a spanking-new hotel and beer parlor, where business is so good the waiters refuse to serve less than two beers at a time to a customer. Near Leduc, Imperial has bought a 160-acre field and built a village for 900 families...