CANADIAN PROFITS SHOW BIG JUMP FOR 1990

Canadian petroleum industry profits jumped 81% to $2.4 billion in 1990 from $1.3 billion in 1989, a federal agency reports. The Petroleum Monitoring Agency said a major factor in the boost was the Persian Gulf war, which doubled Canadian crude oil prices. PMA Director Peter Blitt said the profit increase should not be taken as evidence of price gouging. "You have to view it in terms of rates of return," he said. "The rate of return on capital employed was 5.1%. It's not a very impressive

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