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March 2
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Carter Royal Commission on taxation recommends withdrawl of "generous tax concessions (which) encourage an unnecessary high cost search for conventional oil" and the elimination of special incentives such as the depreciation allowance
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June 6
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Egyptian President Nasser closes Suez Canal to American and British ships in retaliation for their alleged support of Israel in the Arab-Israeli War; Iraq, Kuwait and Saudi Arabia halt oil shipments to the two Western Nations amid claims American and British combat jets have joined Israeli fighters
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June 9
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DOB runs special "facts and figures" analysis of the world oil industry as the glove is plunged into an oil crisis; the report included nation-by-nation breakdown of proved reserves, production and markets and concluded Canada can play a bigger role in serving the North American market
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June 14
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Natural gas delivery plans to Great Canadian Oil Sand's Athabasca project are expected to be the most unique in gas industry history; the plans call for reverse flow of gas through a 226-mile pipe
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June 30
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Chaos and panic continue to grip the world as Arab-Isreali conflict rages, scuttled ships block the Suez Canal, tanker chartering is the most frenzied in history and a short fall in production and transmission facilities strain North American productive capacity
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August 17
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Arab leaders debate a proposal for a total worldwide oil embargo to demonstrate world dependence on their reserves
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October 2
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Great Canadian Oil Sands Plant officially opens Sept. 30
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October 6
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Weekly CFCN-TV - Oil Report, hosted by Carl Nickle, debuts Saturday Oct 7 at 6:15 p.m.
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December 12
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Panarctic Oils, 45%-owned by the federal government, announces a three year $20 million exploration program on 44 million acres in the Arctic islands
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December 27
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Calgary's Mannix Co. Ltd. signs a $30-40 million agreement with Russia to engineer, supply and install automated oil equipment in the Pravdinskoe oilfield, 2,700 miles east of Moscow
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December 28
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U.S.S.R signs agreement with Iraq for exploration in northern Iraq and production and delivery operations in the south
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December 29
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Production value of oil, liquids, gas and sulphur increased to $1.2 billion in 1967, up 10.3% from 1966; oil and liquids production increased nearly 10% to 1.11 million per day and gas output rose 11% to 4.3 billion cubic feet per day
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