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Stock impact report

Hauling more Alberta oil will not be a bonanza for rail companies [Toronto Globe and Mail (Ontario, Canada)]

Canadian National Railway Company (CNI) 
Last canadian national railway company earnings: 4/27 04:01 pm Check Earnings Report
US:NYSE Investor Relations: cn.ca/en/investors
Open this photo in gallery A tanker truck used to haul oil products operates at an oil facility near Brooks, Alberta, on April 18, 2018. Todd Korol/Reuters Canadian oil producers are desperate to get more oil out of Alberta, and they are turning to railways for help. What is the upside here for Canadian National Railway Co. and Canadian Pacific Railway Ltd. as they haul more crude? The question lands amid tremendous concern about the impact of low oil prices. As a result of years-long delays in constructing new pipelines, an oil glut is weighing on the price of heavy bitumen produced in the oil sands. Western Canadian Select (WCS), a benchmark crude, trades at just US$21.93 per barrel – well below US$50.49 per barrel for West Texas Intermediate (WTI), a U.S. benchmark. At this price for WCS, some observers believe the Canadian economy is suffering losses ranging between $50-million and $80-million per day, putting pressure on energy ex Show less Read more
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