OIL HOPES IN ARCTIC
MONTREAL. Oil sands discovered in the Canadian Arctic islands last summer may eventually be the key to the opening up of Canada’s north, the oil industry believes. Because of the weather the sands could mot be fully evaluated last year. Further exploration is expected this summer. The discovery was made on Melville Island, about 800 miles from the North Pole. While much exploratory work is required to ascertain the volume of the deposits, preliminary information indicates two bodies of oil-bear-ing sands, each about two miles in width, extending for 60 miles. Authorities state that given adequate markets and transportation, commercial development of Arctic oil is probably only five to 10 years away. Fortunately the deposits are accessible to tidewater, eliminating numerous transportation problems.—Reuter.
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Press, Volume CII, Issue 30288, 14 November 1963, Page 9
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127OIL HOPES IN ARCTIC Press, Volume CII, Issue 30288, 14 November 1963, Page 9
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