Sunday, October 4th8.3°C

Company behind stalled Keystone XL tells U.S.: We'll use rail, then

WASHINGTON - Frustrated by yet another delay, the company behind the stalled Keystone XL pipeline project has a message for the U.S. government: it's getting involved in the rail business.

It might be costlier and dirtier, but until the pipeline gets approved, the company says shipping oil by rail might have to do as a Plan B.

The president of TransCanada Corp. is in Washington, telling policy-makers and U.S. media outlets that he's spending the next few weeks working out the technical and financial details.

Russ Girling says the company already has storage facilities in Hardisty, Alta., and Cushing, Okla., and might also build new storage space in Steele City, Neb.

From there, it would build relatively inexpensive loading-and-unloading rail infrastructure, then pump the oil into the pipeline's already-completed southern leg.

In an interview, Girling says his company had been considering rail for a while, but had its hand forced by the U.S. administration's latest delay in approving Keystone XL.

He says customers started calling him the very next day, urging him to use rail.

Girling says TransCanada won't make huge profits from its rail project — most of the revenue will go to the shippers — but he says it will help pick up part of the slack.

The Canadian Press

Read more Business News

Recent Trending

Today's Market
S&P TSX13339.74+97.85
S&P CDNX525.56-0.33
S&P 5001951.36+27.54
CDN Dollar0.7617+0.0015
Natural Gas2.467+0.034

Okanagan Companies
Pacific Safety0.215+0.000
QHR Technologies Inc1.19+0.01
Metalex Ventures0.06+0.00
Russel Metals21.48-0.07
Copper Mountain Mining0.42+0.03
Colorado Resources0.08+0.01
ReliaBrand Inc0.004-0.000
Sunrise Resources Ltd0.02+0.00
Mission Ready Services0.095+0.005
Decisive Dividend Corp3.49+0.45
Diamcor Mining0.90+0.02



23605433000 20th street NE
more details
Click here to feature your property
Please wait... loading

Living beyond 100

Photo: ContributedThere was a time most careers involved an apprenticeship of one sort another. Some official, others involving years of servitude, and others time simply spent watching and emulating ...

Collateral mortgage

Photo: Thinkstock.comMost of the time I recommend that my clients not take a collateral type mortgage product, as it locks you in with the current lender and at maturity the mortgage is costly to tran...

5 Claim misconceptions

Photo: Thinkstock.comIf you have been hurt in an accident or as a result of medical negligence you will likely look to your friends and family for some advice on how to deal with the situation. These ...




Member of BC Press Council