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Oil Industry / Alberta's Trust Fund #257413

CBS Evening News for Tuesday, Apr 18, 1978
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(Studio) Discovery of oil on AK's north slope mentioned. Report on discovery of oil in Canada.
REPORTER: Roger Mudd

(Fort McMurray, Canada) Amt. of oil in Canadian Rockies in Alberta prov. noted. Difficulties in extracting much of it described. Prov. government's establishment of Alberta Heritage Savings Trust Fund stated and fund's purpose outlined. [New Democratic party spokesperson Grant NOTLEY - cites reasons for setting up fund; notes that natural gas and oil are not renewable resources.] Uses of fund reported, include hospital in Calgary and medical research center in Edmonton, detailed. [Alberta Treasury Merv LEITCH - notes lack of taxes or lowest of certain ones in cntry.] Criticism of government for allegedly paying too little attention to problems associated with energy boom. [NOTLEY - notes prov. has more social problems associated with boom society than any other part of Canada. Says government does almost nothing to deal with these problems.] Plans by oil drilling company to begin extracting oil from north Alberta oil field, one of largest in world, noted.
REPORTER: Bernard Goldberg

Goldberg, Bernard;
Mudd, Roger

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