EST. 1903 - Presenting global influential leaders from business, labour, education & government through events
Hopkins, Dr. Oliver
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The importance of the oil development in Western Canada. The story of Leduc beginning three years ago. The turning point on February 13, 1947 when the Leduc well blew in as a successful producer. Prospects of self-sufficiency in oil production in Canada. Earlier exploration in Alberta. A description of the Leduc discovery and development. Other discoveries in the same area. Production estimates. The accelerating rate of discovery. Spending for exploration and related programmes of development in Alberta this year. Predictions for success of this intensive effort. The contribution such an investment will make to the economy of the West and of Canada as a whole. Benefits, especially in Alberta. The reduction in the prices of petroleum products. Effects of the new oil on Canada as a whole. The contribution domestic oil production is making to the solution of Canada's most serious economic problem: our exchange situation. The added security of large oil reserves within Canada's borders and how it is of fundamental importance not only to Canada but to this hemisphere. Some growing pains for the petroleum industry. Production problems. Finding new markets. The eventual need and plans for a pipe line to provide low-cost transport. Initial capacity of the pipe line. Expectations for completion; how the pipe line will add substantially to the benefits accompanying the western development. Imperial Oil's sponsorship of the Interprovincial Pipe Line Co. Considerations in arriving at the route of the line. The question of an all-Canadian route. Increased pressure and demand for Alberta oil. Exporting oil to the United States, possibly as a means of payment for oil imported at refining centres remote from producing fields in the West. Canada now witnessing only the beginning of a new era in oil development and in the transportatio problems which accompany it.