The Goderich Signal-Star, 1979-08-02, Page 5New ere-cutirve...
A new executive was elected at the Ashfield Town-
ship Federation of Agriculture annual meeting at
Kingsbridge Community School on July 26. From the
left are front row, president, Dalton;
Nat,
secretary, Mary Louise Dalton; vice-president,
Grant Curran; back row, directors, Francis Hogan,
Doug Marty n and Jirh West. ( Photo by Sharon Dietz)
elects executive
The annual meeting. and
election of officers was held
on July 26th at St. Joseph's
School, Kingsbridge with
about 90 people in attend-
ance. The minutes of the last
annual meeting and, banquet
were read by the secretary,
Tinie Logtenberg 'and adopt-
ed by Larry Pentland and
seconded by Grant Curran.
The, financial report was
given and adopted on motion
by Jim West and seconded
by John Andrew.
President Derk Logten-
berg, who chaired the meet-
ing, thanked everyone who
came and also Marion Zinn
for auditing the financial
statement.
Merle Gunby, Huron
County president, in making
his report stressed that there
was more participation need-
ed at County meetings, and
also the new medical plan
needing an additional 40%
more support or it would be
- 'dropped': it--qurstiThr•Md:"
was given.
The elections chaired by
Merle Gunby were as fol-
lows: president, Clete Dal-
ton; vice president, Grant
Curran; directors, Mr. and
Mrs. Jim West, Mr. and
Mrs. Doug Martyn, Mr.
Francis Hogan; secretary
treasurer, Mary Louise Dal-
ton.
Clete Dalton then intro-
duced the guest speakers,
Ron White, second vice pres-
ident of Ontario Federation
of Agriculture and also'Jim
McGuigan M.P.P. Kent and
Essex County. They both
spoke on foreign, ownership
and stated that it is a slow
process to get legislation
passed to curb such matters.
in a question and answer
period, Ashfield Township
farmers revealed a deep
concern in stating their
views.
Grant Curran thanked the
guests -speakers for giving
their time addressing the
meeting.
Merle Gunby •had the
dump problem brought for-
ward which Warren Lim
replied on being looked after.
Cliff Robb also commented
on the meeting's good turn
out.
The meeting was adjourn-
ed by Vince Austin.
Future of energy depends on exploration
BYCATH WOODEN
/Douglas Fraser, a
4epresentative of the
Petroleum Resources
Communications
Foundation, spoke to the
Goderich Rotary Club on
Jelly 31 about oil and
natural gas:
The brother of Ray
Fraser, program director
for the local Rotary 'Club,'
Douglas Fraser has been
an administrative
manager with Petro Fina
Canada in Calgary since
• 1949.
The purpose of the
• foundation is "to create
increased public
awareness and un-
derstanding of the oil and
•
gas industry," said
Fraser,
He spoke about future
supply and demand of oil
and natural °gas.
Canadians consume
about 1.8 million barrels
of crude a day. In .1995,
the expected requirement
will raise to 2.25-2.75
million barrels.
However, our ability to
produce will fall sharply.
-Today, we produce 1.5
million barrels,. while in
1995 production may drop
to less than .5 'million
barrels a day. That.
means importing 1.5
million barrels at a cost
bf $8 billion a year.
On the other hand,
Fraser said supply of
Reunion for veterans
Dear Editor,
The Wartime Per-
sonnel of No. 6 S.F.T.S.,
R.C.A.F., Dunnville,
Ontario will hold their
34th annual. reunion ir
• Dunnville on September
21, 22 and 23.
Highlights • of, the
weekend will be a Friday
night reception (com-
pliments of Mayor Frank
Marshall), Saturday
morning golf tour-
nament, flypast of
wartime Harvard air-
craft, a brief memorial
servic9- at the Harvard
Memorial, Saturday
evening banquet and
Sunday morning break-
fast (compliments of Ex -
Mayor Charles Lundy).
All No. 6 Veterans and
their spouses are invited.
Contact Frank Scholfield,
Secretary, Box 187,
Dunnville, Ontario N1A
2X5, who will be only too
pleased to send all details
and place your name on
the permanent ' mailing
list.
Yours very truly
Frank Scholfield
General Secretary
natural gas is not a real of the cost goes to federal
problem. The National royalties and taxes, 43
Energy Board estimates percent to provincial
that • Canada has 66royalties and taxes, and
trillion cubic feet 0.1, 44 percent to industry •
established gas reserves . before reinvestment. The
and estimates the total government decides how
ultimate potential is 147 to split is divided.
trillion cubic feet.
Seventy-five., percent of
With out domestic use oil ihdustries' funds are
011.18-61.1r exports, we use reinvested in exploration
only. three trillion. cubic • and development. Eight
feet of natural gas a year.,
_ _dollars was
The year 2000""W Se -0 a- reinvested in 1978.
demand of 3.5 trillion Many people accuse the
cubic feet.
oil companies of unfair
profits. In 1976,.the in-
dustry averaged a 10.5
pe'rtent return on capital.
The, return was 11:3
percent in 1977. All other
industries ..in Canada
averaged a raise of .1
percent.
Fraser said it, illyst be
remembered that the
industry won't get in-
vestors in such a risky
operation unless the
return is better than
average.
Fraser offered • some
surprising statistics
about foreign control in
the oil 'and gas industry.
Resources are 100 per-
cent Canadian owned.
The majority. of
.company directors . are
Canadian. Shares are
Fraser said 'renewable
energy sources such as
solar and tidal power will
not play a significant role
in the energy picture for
many years. However he
did say that incresed
nuclear power is
essential.
• Fraser said that
projections for oil prices
"allow absolutely wild
variations," from $14 a
barrel in 1995 up to $130.
In terms of gasoline at,
the pump, this means
from about 90 cents a
gallon to over $4 a gallon.
Realistically, gas will
cost about $1.38 .per
CountrieSI'S'ach as West
Germany, Sweden, the
United Kingdom, and
Italy are already paying open, and as a,result, it is
higher prices. Italy, for difficult • to • meter
example, pays $2.87 for a ownership,
gallon of gas. Most people think there
Fraser said that out of are only four or rive oil
a barrel of oil, 13 percent comPanies. There are
actually 700.,Canadian
corripdhies., :get i v ely
searching for oil and gas.
Another 2,800 com-
panies depend entirely on
the oil and gas industry,
which employs one
million Canadians.
Douglas Fraser
ilirmiatrzysi
August White Sale'
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selection is at its best
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524-8572
400441.
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GODER ICH SIGNAL -STAR, THURSDAY, AUGUST. 271979—PAGE 5
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