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Loughheed Resigns as Premier of Alberta

United Press International

Premier Peter Lougheed has announced his resignation after 14 years as leader of the oil-rich western Canadian province of Alberta.

The 56-year-old Harvard graduate said Wednesday that he is satisfied he has built up his Conservative Party over a 20-year period. The Conservatives hold 74 of the 79 seats in Alberta’s legislature.

“Would somebody please explain why somebody’s going to voluntarily give up the best political job in Canada?” the premier joked to reporters, adding he wants a convention to choose a new leader before early November.

Lougheed is expected to go into private business.

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