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Lw lbThe Barrie Examiner Thursday Mo 20 I976 Milne discusses problems trying to decide oil price By ROSS MILNE MP PeelDufferinSimcoe The provincial permiers metrecently with the prime mInIster to work out new pace for Canadian crude oil In the coming year No agreement was reached Establishing the price of oil 15 difficult business The producmg provinces want world prices in the order of $12 to $13 per barrel The con sumIng provinces want the smallest increase possible over the current price of $8 per barrel The premiers of both the producmg and consuming provmces would not be ser vmg their respective con stituenCIes properly unless they argued strongly their higher and lower cost troposals NEGOTIATION The role and responsibility of the federal government is to negotiate price with the rrovmces If no agreement is reached then price must be set unilaterally by the federal government Obviously this price has to be compromise of the demands made by the producing and consuming povmces What are some of the con siderations that arise in this vitalissue The first question you may ask is why any price increase should be discussed during this time of restraint Canada has two options to at least double exploration of costly new reserves mainly in the far north and offshore or secondly to rely more and more on imported oil Over half of the crude oil Ised in Canada is now im ported The recent Energy Strategy for Canadians an nounced by the government sets an objective for limiting imports of oil to no more than third of Canadian requirements by 1985 OFF SHORE WELLS question in the problem is where the money will come from to finance the develop ment of the tar sands off shore oil wells and oil and gas reserves in the Arctic Ocean There is no question in my mind that petroleum in Canada is already overpriced if only the present reserves in Alberta are considered But the fact is troleum is underpriced to evelop new resources If the price does not increase Canadians will have relatively cheap energy until the traditional reserves run out At that point there would be tremendous impact on the economy as prices would lave to be suddenly adjusted upwards in order to buy im ported oil Perhaps the best answer is to gradually increase prices so that they are less than in other cou ntries But the price must be adequate to ensure exploration and development of new reserves so that we will be substantially self sufficient in energy in the future IDWER PRICE How do Canadian prices compare with other coun tries The present Canadian rice is $8 per barrel The average price of oil in the US is almost $11 per barrel International prices are currently frozen at about $1150 per barrel in the Per sian Gulf This oil cost $13 per barrel delivered to Eastern Canada It is quite possible that both the in ternational and the US price will increase in 1976 Why pay more for oil when the increase goes to govern ments in taxes At the resent time and without the factor of increased ex UK TV shows prime exports LONDON CF From To ronto to Tokyo and 0510 to Omaha viewers are increas ingly watching British tele nsion one of the countrys pre mier exports Coronation Street is as famil iar on the Canadian prairies as it is in its native Lancashire Its all part of the great TV export boom as Britain chal lenges the United States un beaten 20year run as the worlds leader in nonfilm pro gram sales It is mainly due to the high quality of the British product but world inflation has helped along with increasing boredom mm the American sausage machine product Earnings from British pro gram exports now are esti mated at £32 million $59 mil her year The Sex Wives of Henry VIII sold toSO countries and Elmabeth and War and Peace each sold to 50 coun tries are gust few of the Brit sh shouts screened orldwide Or the American market the mad Monty Python crowd has recently joined host of other British programs such as Ken neth Clarks Civilisation and the hit comedy Honestly The publicly financed BBC alone exported around 9000 hours of progams last year grossmg more than £5 million in overseas sales And the BBC comes second to Sir Lew Grades Associated Television Company ATVone of the five big commercial TV com panies in Britainwhich this year hopes to top £20 million from overseas TV sales British television has much soughtafter quality abroad says Muir Sutherland head of sales at Thames TV because it supplies polished literatc longerunning programs which attract regular devoted audience But it is not only the quality edge that makes British TV so attractive TV channels throughout the world hit by in flation amt lcss able to invest in thcir own prixiuctions find it msicr to import the bigger pro hctions from Britain and the US Britains falling pound mach It an cvcn morc favor ahlc bargain lhc Amcricans themselves with much timc givcn to TV Get grants IUIU NIU Itl The tario Arts oIIncil announced IIIceray It will distribute $3 750000 til grants to 57 individ uals and 12 artistic groups throughout Ontario ouncil chairman Frank MclIachrIn EtIlIII artistic IIIVclopmcnt in all rcgioas of Ontario has ncvcr been higher Among those groum rccclviny grants arc tic National Ilallct School $Illl500 anarIIaII pcra Company $220000 loronto Symphony rchcstra $330000 Shaw ItSIlV1II Theatre $ll7ti75 and Strat ford Shakcsrxarean chtival $80000 films produced by the film in distry and to quiz shows and other lowbudget programs en joy the relief and variety of British TV Documentaries and English dramas are particularly in de mand ploration the $8 per barrel is roughly divided as follows Producing provinces 48 per cent Federal government 27 per cent and the oil in dustry 25 per cent If the crude price rose $1 rQMWWM CANADAS LARGEST AND RESTKNOWN RECORD STORE IOE WALSH Live Turn To Stone Walk Away and more AT SAMS 449 as MALI Wilderness There Wont Do No Country Music and IO more AT saws 44 ONLY Above items on sale at advertised prices while supply lasts Fri Sot MomOne each person INVEST NOW DIAMOND NEEDLES SAM THE RECORD MAN ID DUNLOP ST EAST BARRIE AT TIIE FIVE POINTS Mm Mom Tum 00 Ms Set 930 to 600 pan Mdty 930 to 900 per barrel and half of this sum was spent on ex oration then the $9 per rrel price would be split as follows provincial overn ment 44 per cent ederal government three per cent and oil industry 53 per cent In other words the federal tax system is structured to encourage exploration If the industry does not spend pro fits on exploration and development through Petro Canada or similar agencies feel the government has 501 May 22nd 930 Greatest Hits Best of My Love Take It Easy One Of These Nights Lying Eyes SALSOUL ORCHESTRA Solsoul Hustle Tangerine Got How 449 AT SAMS ONLY NIL SEDAA IStoppin Out love In The Shadows and lo more AT snows ONLY LEVEN THE BUS Anon USE OUR firestorm CREDIT PLAN 0R AMrthv 001 55 DLC78 RETREAD One Size Only Only EAGLES Unconditionolly guar anteed for one your AT AMS ONLY TOPS AT SAMS DOORIl to go further than 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