Word: oiled
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Dates: during 1940-1949
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Imperial, whose funds are furnished largely by its parent company, Standard Oil Co. (N.J.), will spend an estimated $40 million this year for a pipeline from Leduc to its refinery in Regina. At a time when U.S. capital is fighting shy of oil investments in Latin America, about 80% of the current spending in Canada is U.S. money...
...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...
Because the U.S. now has an oil surplus, U.S. oilmen have been bringing pressure in Washington to cut down imports of foreign oil. Faced with that possibility, Alberta's producers have had to consider alternatives. One might be to pipe the oil from Regina to Port Arthur (see map). Another might be to carry oil to Duluth by pipeline under bond, then ship it by tanker to industrial cities in eastern Canada...