Swensrud, Sidney A.
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Some background to the speaker's experiences in Canada. The development of oil production and transportation in Canada since the discovery of Leduc in 1947, and its significance for Canada and the world. Some history and statistics. The relative consumption of oil per capita in the U.S. compared with Canada. The scale of industrial development and better living behind such figures. Some predictions for the future. The importance to the oil industry of the growth factor in creating new opportunities and in solving problems of over-supply or over-capacity. Some startling facts about the gain in oil use. Canada developing into a large producer, transporter, consumer and exporter of natural gas. The issue or concern of the extensive participation on the part of U.S. in Canada's industry. Reasons for Canada to welcome assistance. Benefits to Canada from U.S. participation. Canada's understandable desire to participate in the new developments which their own resources of manpower, experience and capital make possible. Ways to obtain these objectives. Arrangement with the British American Oil Company. The idea of American oil men, independents included, helping to develop oil in Canada in a way which has resulted in Canadian oil being imported into the U.S. Increases in Canada's foreign trade. The speaker's belief in the benefits to the free world of liberal trade policies, and in increasing trade between Canada and the U.S. The importance of confidence in business dealings and in the ability to rely on the carrying out of business agreements. Canada and the U.S. joined together in a common effort to promote peace and economic development throughout the free world. Great difficulties in certain parts of the Middle East. Optimism that much good can ultimately emerge from the situation, perhaps an advancement in the concepts of international law, and the minimum acceptable standards of international conduct on the part of governments in economic as well as political affairs. The relations between Canada and the U.S. as an example of international cooperation.