OIL & GAS: Decision for the Northwest

OIL & GAS

For more than a year the most active stocks on the American Stock Exchange have been Canadian oil and gas issues.

Spurred on by the hope that Canada would soon be piping gas into the Pacific Northwest—the only major area in the U.S. without natural gas—speculators ran prices upward. Last week the bubble burst.

U.S. gas, instead of Canadian, ruled the Federal Power Commission, will go into the Northwest. On the American Exchange some Canadian issues dropped by a third, and trading was suspended for a time in Pacific Petroleums Ltd., down 3½ points to 7¼. The Vancouver Stock Exchange...

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