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Huge cutback in capital spending plans of Gulf Oil Canada were revealed yesterday by Gulf president Jerry McAfee, left, shown with R. C. Meech, presid(...)
Huge cutback in capital spending plans of Gulf Oil Canada were revealed yesterday by Gulf president Jerry McAfee, left, shown with R. C. Meech, presid(...)

Huge cutback in capital spending plans of Gulf Oil Canada were revealed yesterday by Gulf president Jerry McAfee, left, shown with R. C. Meech, presid(...)

Date11/25/1974
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  • Huge cutback in capital spending plans of Gulf Oil Canada were revealed yesterday by Gulf president Jerry McAfee, left, shown with R. C. Meech, president of Toronto's Canadian Club. McAfee said $100 million will be slashed from Gulf's spending plans in 1975. He blamed federal budget and provincial oil royalties.
  • Huge cutback in capital spending plans of Gulf Oil Canada were revealed yesterday by Gulf president Jerry McAfee, left, shown with R. C. Meech, presid(...)
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Original Toronto Star caption: Huge cutback in capital spending plans of Gulf Oil Canada were revealed yesterday by Gulf president Jerry McAfee, left, shown with R. C. Meech, president of Toronto's Canadian Club. McAfee said $100 million will be slashed from Gulf's spending plans in 1975. He blamed federal budget and provincial oil royalties.
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    ProvenanceFrom the Toronto Star Archives
    CollectionToronto Star Photograph Archive
    Usage Rights Copyright (Learn More)
    Copyright HolderToronto Star (Firm)
    Call Number / Accession NumberTSPA_0066150F
    Geography
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    John A. Sawyer. Canadian businessmen are reasonably optimistic about the economy next year, a University of Toronto forum was told yesterday. Two economists, Douglas Peters, of the Toronto-Dominion Bank, and John A. Sawyer, of the U of T School of Business, saw a strong economic recovery. Jerry McAfee, president of Gulf Oil Canada, predicted an increase in natural gas and oil sales, and J.S. Dewar, president of Union Carbide Canada saw modest profits in chemicals.
    John A. Sawyer. Canadian businessmen are reasonably optimistic about the economy next year, a University of Toronto forum was told yesterday. Two economists, Douglas Peters, of the Toronto-Dominion Bank, and John A. Sawyer, of the U of T School of Business, saw a strong economic recovery. Jerry McAfee, president of Gulf Oil Canada, predicted an increase in natural gas and oil sales, and J.S. Dewar, president of Union Carbide Canada saw modest profits in chemicals.
    Spremo, Boris
    12/9/1970
    At loggerheads: In 1976, when Jerry McAfee, left, headed Gulf Canada and John Turner was finance minister, heated exchanges between government and the oil industry were frequent
    At loggerheads: In 1976, when Jerry McAfee, left, headed Gulf Canada and John Turner was finance minister, heated exchanges between government and the oil industry were frequent
    Goode, Jeff
    6/25/1975
    Saying Goodby to his barber, oil man Jerry McAfee left Toronto yesterday to take over as boss of Gulf Oil Corp
    Saying Goodby to his barber, oil man Jerry McAfee left Toronto yesterday to take over as boss of Gulf Oil Corp
    Combs, Erin
    1/20/1976
    Hamming it up with comedy team of Johnny Wayne (left) and Frank Shuster (right) is Jerry McAfee, chairman of Gulf Oil Corp. in Pittsburgh. Wayne and S(...)
    Hamming it up with comedy team of Johnny Wayne (left) and Frank Shuster (right) is Jerry McAfee, chairman of Gulf Oil Corp. in Pittsburgh. Wayne and S(...)
    Combs, Erin
    2/28/1977
    Gulf Canada. Left to Right: John Stoik, President Clarence Shepard, Chief Executive Lorenz Blaser, Exec V-P Jerry McAfee Former President
    Gulf Canada. Left to Right: John Stoik, President Clarence Shepard, Chief Executive Lorenz Blaser, Exec V-P Jerry McAfee Former President
    Combs, Erin
    1/20/1976
    Gulf Oil's McAfee. Encouraged by what's happening
    Gulf Oil's McAfee. Encouraged by what's happening
    Combs, Erin
    1/20/1976
    In the Beaufort Sea, giant Gulf Canada is sitting on a potentially huge oil field
    In the Beaufort Sea, giant Gulf Canada is sitting on a potentially huge oil field
    Slaughter, Mike
    3/10/1986
    Capt. John McIntyre stands on the flying bridge of his oil tanker, the Gulf Canada, with the Gulf refinery and tank farm at Clarkson behind him, as th(...)
    Capt. John McIntyre stands on the flying bridge of his oil tanker, the Gulf Canada, with the Gulf refinery and tank farm at Clarkson behind him, as th(...)
    Griffin, Doug
    11/22/1973
    Keith McWalter: Chairman says Gulf is ready for low oil prices.
    Keith McWalter: Chairman says Gulf is ready for low oil prices.
    Beaty, Keith
    4/22/1988
    Man with full white beard wearing tuque looks left, unsmiling. 
    Face of concern: A Metro Arab leaves a prayer service yesterday at a Danforth Ave. mosque. Arguments over the gulf war started outside the mosque after a man called Iraqi President Saddam Hussein stupid.
    Spremo, Boris
    1/18/1991
    High hopes: President Chuck Shultz, left, said Gulf is optimistic, which chairman Robert Butler said the Reichmanns don't aim to sell their stake in their firm
    High hopes: President Chuck Shultz, left, said Gulf is optimistic, which chairman Robert Butler said the Reichmanns don't aim to sell their stake in their firm
    Combs, Erin
    4/29/1992
    Anti-Cutbacks demonstration, Protesters hold a vigil outside the Legislature yesterday to protest spending cuts by the provincial government. Organize(...)
    Anti-Cutbacks demonstration, Protesters hold a vigil outside the Legislature yesterday to protest spending cuts by the provincial government. Organize(...)
    Power, Peter
    12/1/1995