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ADMS 1010 (296)
Lecture

Before Leduc.doc

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Department
Administrative Studies
Course
ADMS 1010
Professor
Rebecca Jubis
Semester
Winter

Description
Before Leduc • Oil demand was small, oil fields of Petrolia easily met domestic needs. However, demand changed which results from the emergence of the largest oil and gas company in Canada- Imperial Oil. • Imperial Oil dominated the industry in producing, refining and distribution. • Oil fields of Petrolia production ↓, so the business needed to import to meet its needs for military, transportation. • Another oil well found was Turner Valley field in Alberta, but insufficient to meet oil demand. • Alberta was self-sufficient in oil production, while Ontario relied on oil imparted from U.S th After Leduc (Found on Feb 13 , 1947 by Imperial Oil- known as Imperial Leduc No.1) • Alberta became a world-class oil and gas player, many companies entered to seek an action to acquire the oil well. • Imperial Oil sold its stake in its South American subsidiary, International Petroleum to finance the business. • Oil production growth↑, foreign direct investment (FDI) in Canada ↑ in refining and distribution infrastructure. • Canadian favour supplying U.S over domestic. In Maritimes, oil is imported from foreign, while Alberta oil and gas is exported to U.S. Because Alberta is far away from the Maritime and it would be costly to supply eastern Canada. • Many entrepreneurs made investment in oil company, because drilling wells was expensive and if the investor were willing to have a stake and take the risk in this industry
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