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Domestic News
October 20, 1943
The Daily Alaska Empire
Juneau, Juneau County, Alaska
What is this article about?
Rep. Leon H. Gavin urges House investigation into costly Canadian Norman Wells oil project, citing $128M U.S. expense and slow reimbursement via discounted oil prices.
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CANADIAN OIL DEAL IS RAPPED
Rep. Gavin Urges House Investigation of Norman Wells
WASHINGTON. Oct. 20. - Rep. Leon H. Gavin, Pennsylvania Republican, asked the House today to investigate the oil project in northern Canada which he said is costing the United States $128,000,000 on the basis of reimbursement which will take 158 years.
Saying he drew these figures from R. W. Gallagher, president of the Standard Oil Company of New Jersey, Gavin reported repayment to the Government would come in the reduction from $1.25 to 50 cents a barrel in the price of oil from the field.
After the first 1,500,000 barrels, he said, the price would increase 50 cents a barrel. United States producers as a result would produce "more oil in a year than will be produced at Norman Wells for the next 50 years," he claimed.
Rep. Gavin Urges House Investigation of Norman Wells
WASHINGTON. Oct. 20. - Rep. Leon H. Gavin, Pennsylvania Republican, asked the House today to investigate the oil project in northern Canada which he said is costing the United States $128,000,000 on the basis of reimbursement which will take 158 years.
Saying he drew these figures from R. W. Gallagher, president of the Standard Oil Company of New Jersey, Gavin reported repayment to the Government would come in the reduction from $1.25 to 50 cents a barrel in the price of oil from the field.
After the first 1,500,000 barrels, he said, the price would increase 50 cents a barrel. United States producers as a result would produce "more oil in a year than will be produced at Norman Wells for the next 50 years," he claimed.
What sub-type of article is it?
Politics
Economic
What keywords are associated?
Canadian Oil Deal
Norman Wells
House Investigation
Standard Oil
Oil Prices
What entities or persons were involved?
Rep. Leon H. Gavin
R. W. Gallagher
Where did it happen?
Washington
Domestic News Details
Primary Location
Washington
Event Date
Oct. 20.
Key Persons
Rep. Leon H. Gavin
R. W. Gallagher
Event Details
Rep. Leon H. Gavin asked the House to investigate the oil project in northern Canada at Norman Wells, claiming it costs the United States $128,000,000 with reimbursement over 158 years via reduced oil prices from $1.25 to 50 cents a barrel, increasing to $1.00 after the first 1,500,000 barrels; he stated United States producers would produce more oil in a year than Norman Wells for the next 50 years.