oct 28, 1980 - The National Energy Program
Description:
The Nation Energy Program (NEP) was introduced by the Liberals on October 28, 1980, in response to increasing gas prices during an oil crisis. Its goals were to reduce gas consumption, prevent raising gas prices, and make Canada self-sufficient on gas. It funded oil companies so they could drill in new locations in the Arctic and the coast of Newfoundland, as well as convinced Canadians to switch from oil to gas and electric power sources. Oil prices had lowered by 1984, and the NEP was dismantled. Though, it may have benefitted eastern Canada, it had taken advantage of Western Canada, especially Alberta, leaving a lasting negative mark.Added to timeline:
Date:
oct 28, 1980
Now
~ 44 years ago