Imperial Oil Oil discovered the Leduc Woodbend Devonian oil reef in 1947, marking the beginning of the contemporary period in Canadian oil and gas development. Drilling began on the landmark discovery well Leduc No. 1 on November 20, 1946. In 1989, Imperial Oil acquired Texaco's Canadian operations. From the 1934-35 season through the 1975-76 season, Imperial Oil was a sponsor of the Canadian Broadcasting Corp. program "Hockey Night in Canada" for both radio and television broadcasts. In February 2013, Richard Kruger, President of ExxonMobil Production Co. and a Vice President of Exxon Mobil Corp., was appointed to be Chief Executive of Imperial
History of the oil shale industry in the United States as Americans bought record numbers of automobiles. Despite steadily growing domestic petroleum production, the American oil industry could not supply the rapidly growing demand, especially for gasoline, and the country had to import increasing amounts of oil, raising prices, and causing widespread speculation that petroleum would be soon exhausted. America was quickly running out of petroleum and into a permanent state of energy scarcity – or at least many experts said so. The average price of crude oil in the United States more than tripled, going from $0.64 per barrel in 1915 to US$2.01 in 1920. Domestic oil production grew,