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Canada's Oil Crisis Continues To Worsen [zero hedge]

CANADIAN NATIONAL RAILWAY (CNI)  More Company Research Source: zero hedge
Last canadian national railway earnings: 7/24 04:01 pm Check Earnings Report
US:NYSE Investor Relations: cn.ca/en/investors
PDF Authored by Irina Slav via OilPrice.com,Canadian oil producers can’t get a break.First it was the pipelines - there are not enough of them to carry the crude from Alberta’s oil sands to export markets. This pipeline capacity problem has been forcing producers to pay higher rates for railway transportation, which has naturally hurt their margins in no small way.Now, there is a shortage of rail cars as well.The situation is going from bad to worse for Canadian producers who can’t seem to catch a break. Canadian railway operators are fighting harsh winter weather and finding it hard to supply enough cars to move both crude oil from Alberta and grain from the Prairies.The harsh weather is just the latest factor, however. Before that, there was the 45-percent surge in demand for rail cars from the oil industry, Bloomberg reports, citing Canadian National Railway. The surge happened in the third quarter of last year, and Canadian National’s chief executive Ghislain Houle says that it took t [Read more]

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