CANADA: Giving It the Gas

A vast new source of natural gas for U.S. homes and industry was unlocked last week. Satisfied that Canada is endowed with gas reserves well beyond its own needs for at least the next quarter-century, Ottawa approved gas exports to the U.S. of 7.3 trillion cubic feet, an amount that could fuel New York City at present rates for 80 years. The Alberta oil and gas industry, with $200 million tied up in 1,000 capped gas wells, let out a jubilant whoop. Well it might: Canada's new National Energy Board estimated that exports under the four approved licenses will...

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