ENERGY: Canadian Cutback

Canada is one of the three largest foreign suppliers of crude oil to the U.S. It ships 800,000 bbl. daily to northern-tier states and the Midwest, accounting for 20% of U.S. imports, about equal to inflow from Nigeria. Last week the Canadian National Energy Board issued a report showing that the country could lose self-sufficiency by the early 1980s if exports to the U.S. continued at present levels. Accordingly, Ottawa's Minister of Energy, Mines and Resources, Donald S. Macdonald, announced that exports to the U.S. would be cut by 100,000 bbl. by...

Want the full story?

Subscribe Now


Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!