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HomeMy WebLinkAboutThe Lucknow Sentinel, 1981-10-21, Page 6• 1.0 3 si sp on W gu vitc • lrc Ch SO 1 • tl 0 e ne LtiCKIMOVV SENIrilIMEL "The Savoy Twins" Established 173 • SHARON tditor,. • ANtliONY N. .101a1$1rONE Adverti,ios and ' 0.0nrial Manager rAtliy,kNbsToN.. office Siaitos,e, MIRLP ELlOfl. Typer,sorter, • POASI HELM Comiit7cifi1,n Luclmow Sentinel, iliorinosti0y, OCtolior 21, A931,—Page 6 ,Business and Editorial offic; Telephotts-5204fIZ2 Mailing Address P.0, Om 400. tucknow, NOG. 2110 Second class -Mail Registratioo Number 0047 • Subscription $14:50per yttatIn04800 • Seilinr Clihen Mit: SI 2.00,per year in 0,100". mind Foriign, S23,00per reit In.04trrinue Sr.. Cis. U.S.A. mast Foreign,42141.0.per you/ intitkictou Move, Bill if Premier William Davis had told Ontario citizens that he had $650 million to spend, there are Many of us who would have had plenty of suggestions, but none of those suggestions 11); would have been,' buy 25 per „cent of an oil company. Premier Davis announced on the first day of the fall sitting of the legislature last week, that Ontario will pay 5650 million • for a quarter of the shares of Suncor Inc., with an option to • buy. controlling interest of the ,firm within five years. . The citizens of Ontario have a right to be most upset with Premier Davis. The investment will make no real contribution to solving -Ontario's real economic problems. The Ontario economy has to go through some truly difficult adjustments at a time when much of the excitement in the country's economy is either in the Canadian West or in Atlantic Canada. • The province has to find new ways to compete internationally in a wide range of manufacturing and service industries at a time when parts of the economy are becoming obsolete'and new induitiies must be found to replace them. It might have made more sense to use the 5650 million to provide new equity capital for the expansion of industries in areas of much greater importance to Ontario's future than oil, industries such as auto parts, diesel engines, biotechnology, electronics, ,computer software, machinery and industrial equipment, aerospace and telecommunications. The purchase won't create one new job in Ontario. Most of the money the company spends will be in other parts of Canada where there's a far better chance of finding oil. It won't do anything to increase Ontario's energy self- sufficiency either. Nor will there be one new oil well, refinery or gas station in Ontario- as a result of the 5650 million expenditure. And the $650 million only buys a stake in the company, not control. As suggested by David Crane, economics editor of the Toronto Star, if Davis wanted a window on an industry he could have chosen a resource industry based in Ontario. "His officials might benefit from knowing more about the internal workings of the nickel, copper or forest industries, for example, in drafting tax, pollution or reforestation policies," ' • • . ••r• '.°•••41. „ 0,. • , •'• 4:11 if,MegalW • . . •4 ;74 "404 ..• ... ifit,‘" 'se/ ' ' '''' / . y.„0.,1,/,' ' , ',, l III/ /...(, ,,p _, , • ....,„••••-• • .•. 7,x v.: , ,,, . '`. . • . . • ' • . ,• 'Davis gave three reasons for ,the- government's envy into lithium" anthem ure.pardetputed in the saw Day cafe• beginning of October and a nvatiabie positions are wed the oil business. First, he wanted to show he supports the program offered by Both Ifftelde hi her homeon Lagoa and there Is a waiting Hag. federal government's desire to Canadianize the oil and gas acne., geveratof the dren are shown durhsg a creative creative play, "aide" which industryploy session Monday months& From the left are Jeffrey each day and outdoor, play. A • Well, BM, Yen didn'tbave to buY Part ofan oil company to Porter, Chris Button, Jesse Park, Adam Morrison and hille ids* provided. dothat. You could have made a contribution by giving strong mom ianth hns been epetathqg the day care rine the vocal support for the federal _Canadianization program and the activities of Petro.Canada. It it afterall, the federal government's responsibilitytto regain control of the country's economy. Ontario need not spend 5650 million on a program which is really not a provincial responAility. Secondly, Davis said he wanted to obtain"a window on the whole energy 'question". A 25 per cent stake in an oil company isn'1 going to enlighten the premier on the "whole energy gum, ', no matter how big a window 5650 million • can buy. •' It's fine for Queen's Park to want to know snore about how the oilindustry operates, but 5650 million is mighty expensive research. Especially when the information is available for nothing from Petro.C.anada which was set up for that purpose and from the federal govermnent. Thirdly, Davis said the purchase is a good investment for Ontario. It will yield future financial profits to the Ontario public. This is a new twist. Since when is it the government's role to make investments on the stock mailed" for the Ontario • public usipg their money?„ The kind of money being thrown around in this deal is more than many Ontario taxpayers will earn in a lifetime. It is • almost impossible to conceive 5650 million, \ If Premier Davis wanted to know what the public would • suggest when it comes to spending 5650 million, we could have suggested he implement a program to assist Ontario's fanners who are going bankrupt because they are not receiving a fair price for their product and because of high interest rates. • But then Davis has said that interest rates are federal jurisdiction and Othwa should do something to offset high interest rates: The definition between federal and provincial responsibilities didn't stop him from spending $650 millitni to 0 1 redtrees , program. fnehides crafts, fdeirli dis a different theme hot..luneh ands nap time are • (Sentinel Staff Photo] • by don' Carnpbell It might have been just another day yeser? Will ye accept the humble life 1 - tethered to a tree whilst he fetched for, Haggish Murdoch. He chopped have to offer without giving me cause water. When he had' seen the pony steadily at the trees, . anxious to clear to beat or punish, ye?" drink and left it cropping at the young, as much ground as possible and' Edward MacQueen shuffled his feet lush spring grass, he turned and spoke delaying the plowing of the land for in embarrassment and twisted the - . to his sister. ' this very purpose, Hamish knew that . cap in his hands.. He looked down at • "Tis a quiet pony," he told Anne, plowing would not be easy and he the ground before he, spoke, as he patted the. animal gently' upon and hope that the -poorly prepared what to say, but I will obey you Sir, the.nose,"One day I shall hav,e a horse could only scratch between the stumps "'Tis true I was told by the doctor grtrand would at least produce some and I have given my, word on ft." justitke this pony". He drew himself sort of an oat crop. Hamish smiled. It was a soft, sad up and stuck out his chest. "1 can ride now Annie, and Doctor Cameron 'says When he heard shouts coming from smile .which accepted the boy's state- . that rit make a braw horseman!" • the direction of his cabin, he left his meat, but knowing the turmoil within Anne MacQueen \ was just a little work and went to investigate.. Riding his, mind, was not 'sure if his conflict jealous of, her brother's experience. connected the cabin tvitit the conceit- "Ye can no be a good harsemanafter a down the rough cut clearing ,which with the lad was finished. "I canna espect ye to treat me as feiv hours on the back of a pony, and -yere ain. But I will feed ye and protect dinna tell me ye were no just a wee bit sion road, was a man on horseback, , i Doctor Cameron and Edward Mac- scared when ye first started up Yonge followed by a boy on pony. It was ye until the day When ye will decide . . , whether }famish Murdoch is fit to be Street. the boy remained CO the pony when he fondling of the animal. Edward MacQueen paused in his Queen. The doctor dismounted, but ye're father." He nodded to the doctor. "ff you will excuse me Sir, I "1 was no scared," he said defiant - saw Hamish, and hung his head in have. much . work in the bush.", • • Canadianize an oitcompany and that is a federal jurisdiction. "I've brought back the ad, the away, and soon the sound of axe b 1 ' H walked ty. And I'm no scared the noo. It is embarrassment, Without lookingback, ' Why is it that Ontario has million to spend on I told Ifainish, and then adress- meeting free could be heard from the . sore that 1 am„ Sore on the legs. aye and on the backside too! lis a tong , ' purchasing shares in an oil company, way from Termite pany, but Ontario has no ' ng Edward, he said, "Get down boy cabin. . , ' mimed meyou would say ' " • , maWc:rienintntheondorciltaorcehhaed returnedf ln l sh e d atot theth e , program to subsidize the farmer for the low price he's paid to and tell , Mr. Murdoch what you Doctor Cameron told the boy to look grow food? In every other province in Canada, except P'ruice Pr , - , after the pony and rode off in the Murdoch cabin and spoke to Edward to him . Edward Island, there is a provincial program in place which Edward MacQueen dismounted an direction a of the MacCritunion place, MACOUC.C11, offsets low commodity prices and high interest rates enabling reluctantly walked , towards .. his new Ordinarily. he would not have wasted "'You are a lucky boy, Edward. You farmers to stay competitive. • father. He took Off his hat in a gesture his thne and effort , in visithig an have a new home, . good man for a ' Someone should tell Penner Davis that the world crisis in of respect, • the future isn't going to lie a shortage of oil but rather a ./ "I have been told to Sir say, , that I ' t e * * 'II ' . * expectant loather so far from Toronto, father, and if you keep your'pl romise to ,, bu sh was a MacCrtmmon, one of his flaiiiis' Murdoch and to me, you also shortage of food. It really isn't necessary to invest this kind of ' arts Surly I ran away and to promise 1 people, and it was a duty he felt have a pony. He is yours as tong as , money in the oil industry, because food is going to be the . will rise do it again,' . obliged to, carry oit7t . ig world's most valuable comm oditY id the &hire, . ' 1 Hamish Murdoch looked sadly and , Katie Murdoch was overjoyed at the ytt6eviterbehhaavvedanYy"mforeetitraolludblewleronntevyeoru, I If Davis wanted to obtain window on an industry in this intently at the boy. He wanted return of her son and wanted tet feed again!" province, he could have invested $650 million in our arrything the lad had to say to be front him right then and there, but the lad Doctor Cameron rode away. There agriculture industry to. ensure that Ontario remains a the heart, and not because of duress. would not go into the cabin until • he ' was no need for goodbyes, The doctor foremost producer of food. That kind of investment could "Ye hae been told by Doctor • had trnded the poriy„ With patiencewas a very ardent member ofthe the •have ensured that the province's farmers would be allowed to carumou to say ye are sorry, but tell and care he walked the animal to cool "Friends of Skye" and everbody knew' stay on their land and continue to produce food. me fad# ik that what ye would say it from the long journey and left it they would soon see hint again. - •'