~J 1'0 c" l -"'~ -/'" I ·1 I 1 ATIOUAL EAl.1K FOR RECorrSTRUCTION MID D:EV::8LOPNE1""T c 66873 LEGAL DEPARTMENT FllES Economic Department Date: li.9.rch 30, 1949. Frepared by: Sru1uel Lipkmn tz Michel Verhulst C1.JRR]ThTT D:EVE[,OPIIENTS IN THE CAlfAPI AN PETROLEUM INDUSTRY A major ohange in the Canadian petroleum Dosition is ocouring. Although oil production beg~n in Cana.da in 1862, only three years a.fter it be.gan in the United Sta.tes, Cana,da t s petroleum requirements h!:'.ve ~~''lays been SUPIJlied very largely by imports. Reoent discoveries in .Alberta. notably the Leduc and Red':'Tater fields, give promise of yielcling major ne\1 oil fields ",hieh should enable \'lestern Cana.da to become self- sufficient vTi thin a fe'" years and possibly malte Cana,da a net ~)orter of petroleum 'l:lithin a decade. If thi s goal is to be reaJ. i zecl, Ca.n~.cle, t s future oonsumption of 100 million barrels of petroleum or more per yea,r would be su~lied entirely from domestic sources (~lthough cost considera- tions mDY dictate imports into ED,stern Canada and exports from ivestern Canada). Such self-sufficiency mey result in a net foreign exchen~e saving of as much a,s ,several hundred million dollars !leI' year "'i thin a deCf;,de. Prpduction - H1stoti and PrOSDects The ea,rliest Canactian c1iscoveries "rere in Eastern Csnc-.da and ,.,ere of negligible im~ortance. For exemple, although commercial oil production in Canada began in 1862, output .did not reach a level of 1 million barrels until 1929. In contrast, U.S.A. !leased the million barrel mark in 1861, t1tro years after the first commercio.l production, the 10 million mark in 1874, the 100 million mark in 1903, and exceeded 1,000 million barrels in 1929. Since 1929, Canadien production has increased and the 10 million barrel mark t.,ras a.tt.,:,,ined in 1941, c.fter intensive development of the Turner Vclley field near Calgary, Alberta. The t.i:urner Valley field, -2- h01JoTever. 'VIas not prolific enough to ma,int~dn proCl.uction above the 10 million barrel mark for more the~ three years, ~nd outyut declined from a pea~ of 10.6 million barrels in 1943 to 7.6 million barrels in 1946. Spurred on by "tlar-time shortages end ',raning production in the Tur!1€'r Valley field. Imperi~l Oil Company, Limited, an affiliate of Standard Oil Co. of Ne," Jersey, and a number of other CMt:'.dien com'.1onies intensified their ex,1oration progrDlllS in 1943. These progr!:':lms received ne"T impetus ldth the discovery in February 1947 of the Leduc field 18 miles south of Edmonton, Alberte., ~Then a 'l>Tilrlcat \ve1l (1ril1ed by Imperie~ came into pro- duotion. l'lithin tvro years this field he.s gr01'111 into !."l. major field. As compared ,.r! th a single producing "re11 in FebriW.ry 1947, the number of 1·rel18 in the Leduc-Uoodbend field has risen as fo1lol-Ts: 42 February 1948 56 n""y 1948 113 Aug;ust 1948 142 Octo bel' 1948 176 January 1949 Production in this field l'rhich did not reach 1,000 barrels !leI' day until .A~"'llst 1947 had re~ched 13,000 be.rrels ~ger dey by June 1948, exceeding the output of the older Turner Valley field, Bw August 1948, yroduction had reached 19,000 barre1~ per d~y, climbing steadily to over 23.000 barrels per d~ in the first v',eek of 1949. Bw the "leek eM.ad Febru""',l";l 21, output had exceeded 28,000 barrels per dD~T. The Leduc-~'loodbend field is only one major discover:;r in the :past t,·,o years.. The first discovery vrell in the RedNp.ter fielcl., 30 miles northeast of Edmonton str1..1.ck 1.". rich oil formation during the summer of 1948, in ~, -3- field ,·,hiob appears to have an even greater potential thrm the Leduc field. Since the summer severr"11 other Hells in this area have been successf"ll.l end others ~.re being drilled, In the \.reek ended Ha.rch 7 t 12 Redi'later "'ells \-rere 2.1roducing 11,500 ba.rrels per tt~y or almost 1,000 burels per "1ell per day 8?ch, as compared to !:In I?verage production of less th".n 150 barrels per day per Hell in the Leduc field.. Allm.nng for a lo~·rert but more efficient sustained flo':! over the :nro b",.ble life of the t.rells ba.sed on the greater thickness of the oil formation, the Red'·ra.tGr field should prove far more productive per 1·;ell than the LerlUC-':'!oodbend field. During Harch 1949. 1-,hat D.!)pears to be a ne',! rmd 1}erhaps the mo at promising oil field yet discovered in ~testern CanBcla (the Golden Spike) was locr:>.ted about 18 miles south,·rest of Echnonton. In this ne" fiel(l, ~,n oil pa;r zone of at le8.st 261 feet in thickness has been cUscovered "Jl1ich compares with a ma.~imum thickness of 146 feet in the RedTt!13.ter field Clnd 48 feet in the Leduc field.ll It should be emphfl.si zed that a large numbe!' of comlJl),nies hold ler.ses ,,,Uhin or closely adjacent to the alread;r proven arec.s in the Leduc nnd Redwater field.s. This factor "rill d.oubtless result in a. strong cOr.l2)ulsion on the leaseholders to drill ~.s promptly as possible to g,void drainage of oil from their leases by other operators nearby. It therefore seems s.'J.fe to prediot the.t :?roduction in these ares.s "'Ul incre~,se very rapidly, more so than if the area "!ere under a single operating control. Some measure of the increasing interest being ma,nifested in ~1estern lJ Oil and Gas Journal, Harch 24, 1948, p. 334 -4- Canadian petroleum is afforded by the groHing e.creage under lease by petroleum companies and the increase in drilling. Ey November 1948, 43 million of Albertats 165 million acres had been reserved for e~illing, double the total a year earlier. ACtU2~ dr~lling has also eAyanded rapidly 1-,i th 80 rigs active in November 1948, as compared to 20 before the Leduc discovery, at the end of 1946. There are indics,tions that drilling \lTould have expanded more rapicUy lw.d equi:)l'Jlent been more re~il.i1y avnile,ble. ItLack of rigs or equi:gment has :9revented a further extension of drilling ~ctivity. It is estime.ted that at least 25 addi- tional rigs ,"'ould be required to take care of t'.ll the imrnedi- ate~ projected drilling, and that further develo,ment in a number of the fields ~Tould be undertolcen if the rigs ~n(l. equi:;- ment could be obtained. All rigs in the region are being kept busy continuously and usu...uly 'rli th sever~~ lc,;:-.tions ellead to drill. An increasing number of ne," rigs, ho'-!e-.rer 1 I".re no'" being brought in the coUntry from the States by American contr~ctors and as ra:l)idly as they can be set up they "Jill be ';Jut to "101'1:. In vie'., of the extensive and increasing ['ll1ount of ne',' geophysical work being undertalten and in sight ",i th continued e.cquisi tion of exploratory leases, and t~e prospect of finding additional struc- tUres to drill. a continued and greqtly enl~rged drilling program virtually is assured over the next severn! years, t~ldng in not only A.lberb" but ~~so Bri Ush COlUIilbi~. SaskatcheNOll, and Hard- toba provinces. It is ,redicted that within another year at least 100 adeli tione.l rigs "rill be in operation if they can be obt~d.ned. n lJ In view of the foregoing, it is evident th'?t Cane.diell oil production can be expected to increase quite sharply. Table I indic~tes production for selected past yes.rs. It should be noted th~,t production a.t the end of 1948 1m3 at a ne'llT high, all annU8.l rate of almost 15 million barrels. In the 'IITeek of Harch 7, the production rate exceeded 56,000 barrels per d.a\v, ill annual rate of more than. 20 million barrels, "'hich rate 1'las not expected to be attained before mid-year. aJ ~ 9il $nd Gas JQurna~, November 11, 1948, p. 210-11. lOll Ditto ' -5- The President of ImperiD~ Oil, Otc.", has been quotedJJ as say-ing that Can2.da's consumption "!ould re0.ch 350,000 be,rrels per dE'S" by 1955 or !1bout 130 million barrels per yel",r. To be self-sufficient in oil. he indicated reserves of 3 to 5 billion ba.rrels ",ould ha,ve to be fO'und to sustain the necessary out:ryut. 1Jhile there can be no oert:-.inty D,S to such discoveries, a number of informed author! ties h:Cl,ve been cautiously optimistic in this regard. One observer places ~'!estern C;>.nadn's potenti91 total :ryroduction at 5 to 15 billion barrels, quite ~m?le for achievement of self-sufficienoy in the next dec~de or sooner.a! It is significnnt to note tho,t ,·r!1ereo.s C""nacla i S Ill'oven oil reserves l'lere estisated nt 150 million barrels 0:;'1 JD...."Yl.uar,f 1, 19{{', by the U. S. Petroleum Administrp,tion for ;'!a,r end at only 1:39 million barrels as of January 1, 1948, by another soUrce, en estir~te of 500 million barrels '''as published for January I, 1949 t by E. L" De Go1yer, ?, ~·.'ell-kno"m geologist'lJ reflecting the Leduc-Redwater discoveries. It appea,rs emi te likely tlw_t the latter figure '!!Till be incret',sed menifold in the ne:d fe", years, as B result of extensive drilling and discoveries. the expect2,tions of qualified oil observers are met only in Inrt, thE.t is that proven reserves reach a totel of only 2 billion barrels, Canada. should be in ~, position Hi thin 5 years to .,rocl.uce pcrha:9s 75 - 100 million barrels '?er ye3,r. If this figure is attained, Ce:n~da ~'lOuld 11''lall StrS!et Journal, Janu!3.ry 18. 1949. aJDr. Joseph E. Pogue, Vice-president of the Ch.::"l,se }Tationsl ]~nk of NeN York. a recognized. :':Jetroleum authority is quoted in The Ne1:J York Jou:mBl Of COmmerce, Feb. 25, 1949 as follol'rs:· TIlt requires no great stretch of tml:tgin!).tion to picture C~JladD,1 S 011 potentiel "l.s 5 to 10 billion barrels, or even more." ~ Oil and Gas Journa1, December 30, 1948, p. 145. In a speech delivered Harch 18, 1949, lIre J" R. 'tlhite, Vice-president, lmperia~ Oil Ltd. estimated proven reserves at 600 million barrels. -6- prob'tbly become the third leading oil producing area in the 1"lestern Hemi- s:1.'here, as contrasted \',i th a rallk of eighth in 1948, as evidenced by Table II. A marked e.."'Cpansion of Can:>,c:.ien petroleULl production NO'Llld have €looe decidedly beneficial effects on the Canadian econollW. but '."Tould also croate some problems for co~ mining and ~erha~s agriculture ~nd railroa&s in Oanada and for the petroleum industries of other countries. Some of these problems are indioated in the follo,"!ing section, but their trefttment connot pretend to be at nll definitive at present. Some Probpble C9useo.uen,ces of Greatly ]lx-~ed PEJt':Qlevm Oy,tput ~n Cex\8.da The recent increases in Canadian oil output [\.'1.0. t~1e highly fl:woro,ble drilling results to date have resulted in ;,lana to construct ne,., refineries and pipelines near the Albert~ fields, and to expand existing refineries in Western Canada. At the end of 1947 about 75% of Canada'a refining ca:)S,city (154.000 barrels per day) "T8.S in Ontario, Quebec and the 1!aritime Provinces, 3reas ,-,hich cannot be economicC'.lly served by .AJ. berta. crude :for the :/resent. The refining capacity in the 'IT estern PrOVinces "Tas about 55,000 barrels per day, fed in :;J!1rt by imported crude. ;':'11ile refining capacity continues to gro\'!, even in 1949 less tho.n 305~ of the capacity ,rill be in the "Testern Provinces. Table III indicates the number of refineries and their Cal)acity in each province at the end of 1947 Dnd 1948, Increased ~roduction in Alberta lk~s already resulted in some curtail- ment of im:iorts from U.S,A, by refineries in Albert~\ end SaskatcheNic'n. HcCo11 Frontenac, an affiliate of Tex2.s Oom~x1ny. is engaged in building a refinery at E~onton. Alberta, to cost $10 million. Imperi?l Oil ·Co. Ltel... is building a 500 mile pipeline from Led'Q.c to Regino., Saskatche1!rnn. This pi-peline, costing $35 to $40 million "rill have an immediate cape,city of over 50,000 barrels per day, ,·,hich can be increased to 100,000 by adding pumping stations. ;'!hen this figure is compared ,.rith (3, total refining capac! ty in Saskatche':Tan of about 25.000 barrel s per day, some operated by interests other than Imperi~,l, it is obvious tlw,t rei'ine17 expe.nsion in Regina l·rill be enormous even if ,art of the crude to be cD,rried in this pipeline m~' be shiPl)ed to ~!t"nitoba or the U.S.,A. Natural gas pipelines to the U,S.A, are e~so being considered. Because of the present 11mi ted petroleum consumption in the Prairie Provinces, it is evident that I1u:wketing problems for :restern Cano,dion oil '1ill multiply ra~.1idly as sU:9ply increases, Some recent 2.ctions indica,te the probable trend of future policies. In December 1948, posted prices for crude oil in Al berte, 'frere reduced 42 to 52¢ per bv,rrel, 2, ~)rice reduction of almost 15:; in some cases, by the leading refiners. At these .reduced prices, im;)orts from U.S.A. became unattractive,Y Further- more, prices for petroleum product~ 'Jere~lso rectuced. Shortly t~ercl:1£ter the Cane.dian Pacific Rftilroad announced a progr?ln for tile conversion of 100 coal burning locomotives to oil. It seems quite likely thnt as Albert!), oil out;mt increases, prices for crude oil may decline further to permit the tl':}.ming of a "!ider mar~cet. JJ The Ne,'T York Journal of Comr.1erce, December 2, 1948, ca.rries Imperh'.l Oil Co. Ltd's announcement to the effect that the price reductions \-lill IIpermi t Alberta's JJroduction to com:~)ete successfully ':rith :)resent economic sources of U.S. crude Tt!herever sU1)')lies from tlu';\se sources imyinge on the Prairie l·la.fket". .. -8- Pipelines t'11ll likely "be extended to Hani to ba and then to ports on the Great Lakes. A pipeline across the RoCkies to British Colombia is also possible, although the difficulties of terrain and the more limited markets there render this latter project the less attractive. .~ indic~- tion of the im~)ortance of pipelines in reducing transport costs and thus l1idening markets is gi ven bela"'. A large pipeline to Vancouver,' ~O. \·;o1.1.ld reduce shipping costs from $1.35 per barrel by r~11 to about 50(· :per barrel. If a pipeline to Lake ports l·rere in operation, Chic1'.go or Sarnil:'., Ontario, (close to Detroit) could be reached for !'I.bout 80¢ :?er barrel e.s cOIIr)ared to $3 and $2.76 per barrel by 1'&.11 to Sarn;i.a and Chicago res;lectively.lI The map fo.cing this page indico.tes the geogr~:!.'hic distances involved in such marketing. On account of the vast distances and high costs, :?iyelines to cs.rry crude from Alberta to the more densely populated and industrialized areaS of Eastern Ontario and Q,uebec seem less likelY to be built in the immedi- ate future. The refineries in these areo.s therefore Nill probably con- tinue to import crude oil from the U.S.A. and Latin America. As ?rices of Alberta crude decline, petroleum products mny also supplant coal not only in railHaJ' transport, but as an industrisl and domestic fuel. Con- sequently the ~?resent annual production of about 12 million tons of coal and lignite in the Prairie Provinces and British Columbia, may be sharply decreased over the next dece.de, as e. result of incre~.sed competition from petroleum products and naturel g['.s. Approxi!T4:"ttely 11,000 't-rorkers are employed in these cOCl~ mines, mainly in Albert"l,. ~hese eXaID:?les Nere c1 ted in a· recent speech by a Vice-President of Imperial Oil~ -9- Much of the hmo. being drilled in A1 be rtf', is Q'·'!l.ed by the Provinci?l Government. which should derive increased recei,ts, m~{ing ,ossible either increased eX'gendi tures. a reduction in other taxes or both. The 1)rob2,b1e incre~sed availability of cheaper gasoline would also make possible reduced high~'T9¥ transport costs for farmers and industry. The near mono~!oly :':'061- tian af the railroads in Ca.nB,da mB\V' thus be affected, as it "las in the U.S,A. in the last quarter centur.y, causing a diversion of traffic to high- 1119¥s and influencing reductions in trr.msyort costs. Incre2.sed de.'11ano. for 1a,bor in oil fields and. refineries m9¥ offset probable declines in coal mining employment and because yetroleum industry "lages are h1g.1-).. attract some labor aW9¥ from agriculture. It is not yet feasible to estimate whether the expanded supply of chea11er fuels 1'rill give a ma,.ior im,etus to industrialization in the Prairie Provinces thereby increasing the denand for labor and the 10C8~ market for Prairie a,griculturC!l j1roducts. In the field of foreign trade, Canada might find it advantageous to negotiate ,'lith the U.S ••i.. for reductions in the im,ort t~.xes 8nd duties on im-')orted petroleum ~nd :;etroleum products.l.I i'lliile C:;.ns.da is not likely to become the major source of imported crude oil sU7')lies for the U.S.~:", t it coul(l ene.es,vouT to obtain rectuctions in the U~S,im:port tax on crude oil on the S8me groundS as it did on coa~ during the '30s. The tax on coal im:T:'ort~ into the U.S,A. "'ras then 'Haived by the U.S, Congress in the cases of ~, country (Can(lda) "There U, S,A, ex:;)orts exceeded inr)orts, Applict:\.tion of a similar rule to crue1.e oil 1'rolud enable Canada to export JJ Since Canads, already permits duty-free im:)orts of crude petroleum, any concessions on its part ,"auld, if me~de, invol va other products, -10- crude from Alberte, (or other areas) to adjacent J10ints in the U.S ••~. while permitting imports from U.S.A. to points in Canac.Cl. ~.thich cannot be economico~ly served "Qy Canadian oil fields, such as the He'.ri time Provinces. Quebec and Eastern Ontario. Such action, if t·?k;en by oath countries should prove mutually beneficial and minimize the delay in expanding Albertats oil output and its economical marketing. The expansion of oil production in Cc-,nr>.de. shoulc, also have a very favorable effect on Can0..da's international balance of :o~wments. p:':!,rti- cularly ,d th the dollar area. Imnorts of oil and. 1'>l'OO.ucts into the Pr8,irie Provinces have E'~reaCl.y declined and '.'1111 :oro"Qably cee,se during 1949.'JJ One effect of reduced prices for Cs:nf'dian proc1.uced oil might be to reduce prices paid for crude petroleum imported into Eritish Columbiat due to potential com:':'leti tion from AlbertD, oil. Substa'1tie.l eX!,lorts of crude oil and natural gas to Hichrestern e.nd North\-restern U. S.A. seem quite certain uithin the next feN years, the timing being depend.ent largely on pipe availabil! ty Dnd fincmcing since production is likely to be more than ample for Prairie needs. During 1947, Canada im:;;orted alDost 92 million barrels of oil and oil products (see Table IV). In 194:8, there Nas :'1robabl~T 11 ttle chDnge due to s..n increase of about 5 million barrels in domestic crude oil out'Jut. Canada should be able to incre~,se her crude :9roduction much more rapidly than consum~tion increases in 1949 end thereafter for me~ years, thereby decreesing her e~Jenditures for oil i~orts, Rssuming no change in ~rices. Of the 46,000 barrels per d::>y received by ?rn,irie refineries in 1948, about 32,000 or 70% ,·,as from Canadian sources as com-pared Ni th less than 20,000 or 48% in 1947. -11- Canada in 1948 is reported to have spent over 300 million dollars (U. s.) for im:1Jorted oil and procluots, ~,ccorc1ing to Finance Hinister D. C, Abbottll representing more than 15:& of Cann,d?,t s totru. im-ports from the U.S,A. Neasured from the 1946 IlrocIuction rate (7.6 million be.rrela); the increased produotion in 1948 (5.1 million barrels) s1:wed. ·OetNeen $15 and $20 million. In 1949, '\jroduction mCl,y rllllOunt to 25 million bn,rrels, aocounting for a gross saving of at lee.st $50 million per year. Since the increase production in Alberta slso may tend to reduce prices paid for oil im2;orted in other ~)a.rts of CanatL'"l.., 8~r oom')ute.tions f,"'.r into the future become highly complex. It seems reasone,ble to assume, hOi"ever, that CanD,dB. should be ?ble to reduce its im'Jorts of oil end :produots from 92 million barrels in 1947 to a substrmtially l01Jer net figure, perhB,ps 50 million barrels, by 1951. To attain conplete self-sufficiency (in a quantitative rather then a geograJ]hic .sense), i'rould probably require a crude oil production of at least 130 million barrels by 1955, "I[hich does not seem Qutsi(1.e the realm of ~,)o$sibility. At 1948 ;)rices, irrr)orts of 92;; of this quantity (the 1947 proJ]ortion) ~,rould cost gbout $600 million. It ltlOuld be prem;>.t'llre, hOHever, to rely he~.vily on so lar{;e a dollar saving. The exceptlonnl successes in exploration to d~te may not be fully realized in later ventures. IJIarketing :!,)roblems ,'rill not be eo.sily and quickly solved. Prices for Albert'). oil :,>,t the ,·rell may decline sh::u'nly and tend to discour~.ge raIlid ex.:p9nsion as trans:port costs incre.?se Hi th ~,ttempted penetration of more diste,nt markets in C!"!n?d!'l. 2nd the U.S,A. Cap1 tal 8X!'endi tures to enable such sizeable increC'.ses in production f'lnd 11 . Neltl York Journal of CQrnmerce, February I, 1949. -12.... marketing "'ill be very sllbst~,ntial. Furthermore, much of the expansion in C~nC'.da is being finnnced by U.S. ca:;::>ital. Nhich expects to earn substantial "Jrofits. It should be noted in this connection that the majority stoc.1(holders in t~·ro of the l2.rgest Canadian firms, Imperial Oil Comi)a.ny, Ltd. (70~) end I!cOoll,;;;. Frontenac Oil Oo~ t Ltd. (50~) are U.S. comnanies r..nd thD,t much of the drilling nON being done is by subsidb.ries of other Americen com~lflnies, such as Gulf, Continent('l~, Ce~iforn1c, St2nde,rd and Socony-Vacuum. The profi ts of such enterpri ses, ~·rill accrue largely to the U. S.A. and "'ill. of oourse, be a substt'lntial offset ?~ainst im:.>ort s!.wings", Because of these uncert2.inties such 8.S the variable degree of exploratory success, the future trends of oil prices and costs, the varying degree of U.S. and other foreign capih.l i)?rtici'P~.tion in different firms in this industry, it i'lould be 7remature to attem2)t nny close forecast of the foreign exchange savings likely to accrue to Cane.de.. from the :iestern Oe.nn.dian oil boom. Such savings mC',), rl:'.nge betneen 50 to several hundred million dollars per year, but can hard~y fail to be highly bene£ici~.l to the economy of this s}Jarsely l)Ol'ml::::.tei:1. but \'Jell- endo1!!ed COUl1try. TABLE I CAN.~A - Oil Prpduction in SeleQted Years Yea.r ( 000 Ba.rrel s) 1862 12 1894 829 1924 161 1929 1,117 1931 1,543 1932 1,044 1936 1.1)00 1937 2,941 1938 6,966 1939 7,838 194.'() 8,591 1941 10,134 1942 10,365 1943 10,052 1944 10,099 1945 8,183 1946 7,607 1947 7,723 1948 12,68011 l/ Yee.r end re.te over 14 million barrels per ye"l.r. De.By $.verD.ge in Neek of Ma.rch 7 t 1949 t exceeded 20 million b2~rels per year rate. Sources: Dominion BureE'.u of Statistics e.nd Trade Journal s • TABLE II Estimated CryuP. Oil PtoductiQn of Leadin~ Western Hemi§Pt~er~ Are~s in 1948 Proctuctiou CQW1try (BUlions !fillarrela) U.S.A. 2,051 Venezuela. 487 Mexico 58.6 Argentina 23.2 Colombia 22.7 Trinidad 20.5 Peru 13.9 Canada. 12.7 Source; Trade Journals TAJ3LE III CANADA - Refinery Canaci ty by ProVinces End gi 1~i7 End of 1948 CfaJ2~~itl Cena~lt:£ (B~r[:: (B~;t:;t:els Frovince Refineries 1'e[2 Refineries Der dsY) British Columbia 3 17,611 3 26,350 Alberta 4 19,028 7 34,750 Saskatche'l'lal1 8 16,425 7 25.300 Mani toba. 3 3,187 3 7,500 Ontari Q,uebec y 5 6 75,658 78,535 6 6 88,500 145,300 29 210,444 32 327,700 - l./ Figures fo-,: Q,uebec include the H1?uri time Provinces Note: End of 1948 figures inc1uc1.e ex:?a!lsion of capacity under 'day a.t existing refineries but do not include l'>1holly ne", refineries to be built aucl~ as one in Alberta. Source: Ada.~tedfrom Oil and Gas JournQl, issues of April 1, 1948, p. 106-7, [lnd Harch 24, 1949, p. 282-85. TABLE IV CAl~ADA - Petroleum Imnor~s ~ 1947 (Thousands of Barrels) Fuel Oil Crude Gasoline Light Lubri- Mineral Paraf- Petro- Nat- Re- Kero- Distil- dual eating Oils fin leum ural fined sine late (bunkers) Oil n.e.s. Wax Gre_ase Asnha1 t TOTAL Alaska 33 79 112 Neth. i1. Indies 109 552 1,293 7 1,545 ),506 United States. continental 38 t 837 1.547 4.369 2,919 66 389 9,132 139 32 59 57,489 Trinidad 477 811 1, Colombia Venezuela United Kinl'!;dom 1,895 27,128 44 - 312 97 2 1,939 27,537 2 Other 1 1 1 3 TOTAL 68,447 1,591 4,954 4,212 66 319 390 11,666 139 32 60 91.876 Source: International Petroleum Trade, Vol. 17. No.6 June 30, 1948.