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January 2
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Bulletin headline reads "Starting Off The New Year Right" - January production from Turner Valley is expected to increase substantially over January, 1941
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February 13
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Industry questions the legality of an Alberta government oil royalty increase in court
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March 20
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"U.S. government calls Turner Valley into action against the Japanese" -Alberta oil assumes new importance as construction begins on the Alaskan defense highway
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April 24
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Dominion government announces income tax concession to stimulate oil development - Ace Royalties No. 2, a key north extension at Turner Valley, gets the first $25,000 tax break
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June 19
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Gulf Oil Corporation, the fourth largest oil company in the world, joins the search for oil in Alberta
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August 20
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Eleven independents join forces for a critical deep Devonian test at Turner Valley
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October 1
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Gasoline rations are reduced for 225,000 Canadian motorists as German U-boat "wolf packs" continue to choke off foreign oil supplies
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October 2
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The oil shortage grows more critical each day as demand increases for defense projects in the northwest and farmers harvest a bumper crop on the Prairies
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October 23
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Industry watchers worry declining production from Turner Valley hamper its role in the war effort
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December 31
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Oil production rolled past the 10 million barrel mark in 1942 for the first time in the 30-year history of Alberta's oil industry, setting a production for the seventh year in a row
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