March 19, 1948 (20th Parliament, 4th Session)

PC

Arthur Leroy Smith

Progressive Conservative

Mr. A. L. SMITH (Calgary West):

On a question of privilege, I wish to call the attention of the house to an announcement in today's papers; I am sure it will please every hon. member. Imperial Oil have sold their interest in International Petroleum which operates in South America for $80,000,000. The money is to be spent in Alberta for oil development. We can now look forward to the day when Canada will be independent of all foreign sources for its oil supplies. I think the Minister of Finance will also be pleased about these United States dollars.

Topic:   MR. SMITH-SALE OF INTEREST OF IMPERIAL OIL IN INTERNATIONAL PETROLEUM
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