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January 13
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The Northwest Territories Commission says it is confident Panarctic Oils is sitting on reserves as large as Prudhoe Bay; estimates place 1970 oil exploration expenditures at $50 million for the Northwest Territories alone
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January 19
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George Ball, legal adviser to the U.S. State Department , claims the Northwest Passage should be an international waterway; in a submission to the Canadian Common's External Affairs Committee, Ball argues oil development in the Arctic underlines the urgency of getting on with a continental energy policy
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January 26
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External Affairs Minister, Mitchell Sharp, states that, "Legislation, soon to be disclosed, will leave little doubt of Canadian sovereignty in the Arctic; and it will provide the protection Canada needs against the possibility of pollution resulting form the transportation of oil through the Northwest Passage"
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February 4
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In order to retain its full 45% equity in Panarctic Oils Ltd., Ottawa announces it will contribute $22.5 million to Panarctic's exploration program in Canada's north
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February 10
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Prospect's for a "go-ahead" on a 1,700 mile long, four-foot diameter oil pipeline from Prudhoe Bay, Alaska to Edmonton, look favourable
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March 4
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Canada agrees to second Manhattan voyage through Northwest Passage without protest
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April 29
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Syncrude Canada Ltd.'s brief on a federal white paper on tax reform warns changes could "kill" its planned Athasbasca Project
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May 6
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B.C Fisheries Minister Jack Davis announces a ban on oil exploration in the Georgia Strait dividing Vancouver Island from the B.C. mainland, effective May 1
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May 8
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Ottawa revokes a nine year-old order covering federal-owned oil and gas rights in the North and along the Offshore continental shelves; it scraps without public explanation, the rules by which permittees earn the right to get Crown Reserve portions of the lands they explore by paying extra royalties on production
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June 29
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Alberta Gas Trunk Line announces details of a $1.3 billion Arctic gas pipeline system through Alberta
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July 28
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Parliamentary committee issues summary of findings on foreign control and investment and recommends all companies operating in Canada should eventually be 51% Canadian-owned
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August 24
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Kenting Limited, of Calgary, scores a first with its marine seismic survey in the ice-infested waters of Northern Canada; the initial "Polarquest '71" program was made possible by the participation of 15 oil companies holding permits in that area
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August 31
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1970 will be Alberta's first ever "million barrels daily" oil year
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November 12
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Panarctic Oils has a wild and burning natural gas well at King Christian Island, NWT; a 200 foot pillar of fire, visible 120 miles away, is fed by an estimated 42 million cubic feet of gas per day; the well is Panarctic's second major Arctic gas discovery and the largest in Canadian history
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December 3
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Petroleum Association for Conservation of the Canadian Environment (PACE) formed by a group of Canadian oil companies to reinforce efforts to protect the environment
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