WSs ‘
NH

companies now showed that previously
stated inadequate reserves of natural gas
unfounded. Applications were made to
the National Energy Board to permit
additional exports of natural gas.

I said in my letter of January 10, that the
oil companies would use revenue from
Clark-authorized price increases to increase
its stranglehold on Canada’s non-
petroleum energy resources, Mr. Wisener
objected.

Following is a partial list of recent
acquisitions by the multi-nationals of non-
petroleum energy resources:

OIL COMPANY ACQUISITIONS IN
NON-PETROLEUM RESERVES

Company
B.P. Canada Ltd.:

Coal
Sukunka Coal, south of Chetwynd, B.C.

Uranium

335,000 acres at Hornby Bay, N.W.T.
165,000 acres at Baker lake, N.W.T. 15,000
acres at edge of Athabasca Tar Sands in
Alberta. Other interests in Ontario and B.C.

Company
Gulf Canada Ltd.:

Coal
Exploration at Belcourt, B.C., Chip Lake

and Mt. Head, Alberta. A 40% interest in
Dennison Mines near Chetwynd, B.C.

Uranium

Operator and majority owner of Rabbit
Lake development in conjunction with Gulf
Minerals Canada. Net uranium reserves in
1974 were 30 million pounds; in 1978 they
were 69.7 million pounds.

Company
Imperial Oil Ltd.:

Coal
179,000 acres estimated to contain 525

million tons in Alta. Right to earn interestin
Quintette Coal Ltd. in B.C. which controls
leases for 2.5 billion tons. (Has contract to
export 2 million tons a year to Rumania).

Uranium
Has 50% interest in Mid West Lake

Discovery, Saskatchewan. Estimated
reserves of 1.3 million tons.

Company
Shell Canada Ltd::

Coal
2 billion tons of recoverable reserves in

Crows Nest Industries, Ltd., Alberta.

Uranium
Has 40% interest with El Dorado Nuclear in

Alberta. Has 100,000 acres in conjunction
with Saskatchewan Mining Development
Corporation. Has joint venture with Ontario
Hydro in N.W.T. and Labrador.

Company
Texaco Canada Ltd.::

Coal
Has 128,000 acres in Alberta estimated to

contain 4 billion tons.

Mr. Wisener writes that he is not sure
whether I am “uninformed . . . or choose to
ignore the facts.”

Iam happy to advise Mr. Wisener that our
disagreement arises out of facts which he
and his industry have not chosen to disclose

to the Canadian public.

Your truly,
J.J. MUNRO
President