Taylor traveled to Medicine Hat for High School, and attended the University of Alberta completing his studies in geology and mining engineering in 1949.
[4] At the beginning of his leadership, the party was at its lowest point in history, where the last Liberal to serve in the Alberta Legislative Assembly, Bill Dickie of Calgary Glenmore, had crossed the floor to the Progressive Conservatives in 1969.
During his time as Liberal leader, Taylor who was independently wealthy from the success of his oil exploration company Lochiel, donated significant sums to the party to keep it viable, with the Globe and Mail estimating the total above $100,000.
On May 13, 1991, Taylor was ejected from the Legislature by Speaker David J. Carter for unparliamentary language following a resolution to congratulate Baltej Singh Dhillon, the first RCMP officer to wear a turban, was defeated.
[7] His banter led to two Premiers issuing "no-laugh" orders to their caucuses when Taylor would speak negatively about the Progressive Conservative government or Ministers.
[8] Taylor was appointed to the Senate of Canada by Jean Chrétien in 1996 and served there until 2002, choosing Bon Accord and Sturgeon as his Senatorial constituency.