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April 1
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Nothern Natural Gas Company proposes $3 billion natural gas pipeline facilities and construction of a 36-inch diameter transmission line from Empress, Alberta, to North Branch, Minnesota; the second phase of the project is a line extending 1,710 miles from North Branch to the Northwest Territories
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May 28
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Consolidated Natural Gas Limited seeks permission from the Alberta Oil and Gas Conservation Board to remove 2.3 trillion cubic feet of gas from two Alberta fields over 25 years commencing in 1971, resulting in possible revenues of $1 billion
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July 14
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A $1.5 million research project is announced to determine the technological and economic feasibility of constructing a 48-inch diameter, 1,600-mile long crude oil pipeline from Alaska's North Slope through the Yukon and Northwest Territories to Edmonton
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August 13
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OPEC starts new drive for higher crude oil prices because of what it calls "the imbalance between prices OPEC countries charge for their oil, and what they themselves have to pay for goods they import from industrialized nations"
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September 11
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Alaskan land sale largest in world oil history with a $900 million bid for 450,000 acres
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October 6
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Province of Quebec establishes its own company "La Societe Quebecoise D'Initiative Petroliere" (SOQUIP) and will pursue oil exploration in the Magdalen Islands region of the St. Lawrence river
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December 2
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Governments and industry combine to set strict standards for exploration of offshore rights; the system allows for exploration and production while protecting fish and recreational uses of the water and ensures preservation of the environment for owners and users of the shoreline
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December 12
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Alaska North Slope secrets slowly leak out as indications point to the discovery of three over-lapping oil pools encompassing more than 400,000 acres; flow rates for wells completed in the thickest main Prudhoe bay sand are expected to be around 10,000 barrels per day while wells tapping shallower pools are expected to flow 1,000 barrels per day
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