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Special Segment (Canadian Oil) #508368

NBC Evening News for Thursday, Dec 18, 1980
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(Studio) Alberta Province oil and its pros-and cons reported.
REPORTER: John Chancellor

(Calgary, Alberta) Traditional scenes of Alberta Province shown. Oil wells said creating new Alberta. Multi-ntl. orgs., chiefly American, said controlling most of Canada's oil. Ottawa scenes shown. Budget of Canada said seeking 50% Canadian ownership of Canadian oil by 1990. [Fin. minister Allan MacEACHEN - says Canada must acquire Canadian operations of at least 1 multi-ntl. corp.] [Canadian Petroleum Association Ian SMITH - says rules have changed with regard to foreign ownership of oil.] Fall in value of oil stocks after word of government confiscation reported United States response to Canada's plan said deferred until Ronald Reagan takes office. Some protest already reported [Energy minister Marc LALONDE - defends Canada stance.] [Canadian Hunter Limited John MASTERS - says oil development was funded by American companies, and American government, and now Canada wants them out.) Implications explained. [MASTERS - says United States money will be spent in United States.] American money said to have made Calgary, Alberta, North American's boom town. [MASTERS - says in 6 mos, construction, financed by United States money, will be stopped.] Unemp. predicted. Some in Alberta said wanting secession, to protect prosperity brought by American investors.
REPORTER: Lee McCarthy

Reporter(s):
Chancellor, John;
McCarthy, Lee
Duration:
00:04:10

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