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January 14
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Alberta creates the Alberta Oil Sands Research and Technology Authority (AOSRTA)
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January 31
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Alberta Premier Peter Lougheed unveils new energy policy and royalties
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March 21
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Canadian Arctic Gas Pipeline files application with the National Energy Board (NEB)
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March 29
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Bill Dickie, Alberta Minster of Mines and Minerals, announces new royalty rates crating "new" and "old" oil
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April 3
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Lougheed terminates Alberta's tax collection agreement with Ottawa
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May 6
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Federal Finance Minster John Turner's budget created a new tax regime for the oilpatch, including non-deductibility of provincial royalties
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May 16
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Lougheed throws support behind Alberta Gas Trunk Line's petrochemical plans for central Alberta
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May 24
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Ottawa approves Dome's Petroleum's application for an export permit to remove propane and ethane through the Cochin pipeline as well as a certificate to build the pipeline to ship ethylene and light hydrocarbons for Alberta to Sarnia
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May 31
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Lougheed meets with Petrosar and Polysar Limited to discuss feedstock supplies and locations for petrochemical plants
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June 4
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Syncrude Canada begins construction of its $1.4 billion Athabasca oil sands extraction plant
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June 28
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Pan-Alberta Gas receives permit to remove 975 billion cubic feet to California and Quebec for six years starting Nov. 1
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July 3
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Shell Canada announces Peace River bitumen pilot project
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August 27
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NEB approves Pan-Alberta gas sales to Gaz Metropolitain Inc.
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September 6
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Ontario Energy Minister Darcy McKeough announces plans to establish the Ontario Energy Corporation
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September 17
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Alberta Gas Trunk withdraws form the Gas Arctic-Northwest Project Study Group and pursues its own plans for the "Maple Leaf Project" backed by Foothills Pipe Lines and Westcoast Transmission
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September 23
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Ottawa increases the natural gas export price 40-cents to $1 per thousand cubic feet effective Jan 1, 1975
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November 18
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Federal Budget removes deductibility of royalties
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November 24
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Federal Energy Minister Donald MacDoanld says Ottawa will hold oil exports to 800,000 barrels per day beginning Jan 1 reduce them to 650,000 barrels a day by mid 1975 and eliminate them completely by 1982
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December 10
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Atlantic Richfield pulls out of Syncrude megaproject
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December 12
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Alberta reacts to the federal budget by introducing exploration incentives and royalty tax credits for small explorers
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