Winnipeg Free Press

Winnipeg Free Press (Newspaper) - September 22, 1981, Winnipeg, Manitoba Winnipeg free september 1981 Gulf uses 98c of every i liar it receives to run its business in Phillips chairman of the Gulf Canada limited in 1980 about two cents of each Dollar Gulf received in Canada were paid in dividends to shareholders Here and in the United the remaining 98 cents were used to run the company in about million was paid to Gulf Canada total capital and exploration expenditures were of which about half was used to explore for new Oil and to buy crude Oil and other raw materials Cost Over included in this figure is million which went to buy crude Oil from other if Canada were Oil All of this Money could go into the Canadian Economy another reason Why successful Oil explorers like Gulf should be encouraged to find new Oil in Here is How Gulf Canada used the More than billion which represented the total amount we received i manufacturing and distribution costs getting Petroleum products and natural Gas from the Wells to your Furnace or your cars Gas tank costs More than you might for delivery to marketing involving hundreds of Steps to bring Energy to costs about one third of this was paid to Gulf employees across from Mai room staff to president and to chairman of the Gulf is run in Canada by there Are people directly on the Gulf More than three times this number about in service farm Independent trucking for instance indirectly earn their living working with the remainder of the million went for an almost endless list of mate rial and we rent lease maintain offices and we buy Diamond wrapping Gas pumps from companies across Gulf Canadas chairman of tie conies from he went overseas with the studied Law at Osgoode Here he is shown getting a running Start on the manufacturing and distribution 6c exploration crude Oil product and merchandise purchases other costs taxes earnings retained c in the business 2c dividends the above numbers have been taken from Gulf Canadas 1980 annual the Ripple effect of Gulf spending reaches into every Corner of the land providing tens of thousands of jobs for exploration in 1980 Gulf Canadas expenses in searching for Gas and other forms of Energy amounted to much of this went into Frontier exploration in industries and customers we have to refine much More crude than our Wells now most of this extra crude the Arctic Wells i the Beaufort drilling off Canadas East including the promising hib Emia area off the coast of crude product and merchandise purchases Why does a company that has been so successful in discovering Oil have to buy More crude to meet the demands of together with product and merchandise purchases is bought from other Cana Dian sources approximately billion we had to buy about 13 of our crude from other Liis Cost Gulf million to Gether with the Federal governments compensation payment of meant that Canada sent million out of the country to buy these crude Oil if Canada were Oil All of this Money would stay in Canadian taxes Federal and provincial taxes totalled million i More than times the company As Gulf pro fits Are recycled in the Canadian eco they provide for continuing Energy exploration and help our governments provide health education and shareholder dividends in 1980 Gulf Canada shareholders in Canada and the United states received dividends amounting to approximately 2 of gulfs total sales income to be Gulf Canada believes that the Federal government could encourage canadians to participate in Energy development by making investment More attractive through additional tax annual report available to find out in detail How Gulf Canada spends its ask for our annual director Gulf Canada 130 Adelaide Street m5h Gulf Gulf Canada limited i 4 ;