Wednesday, October 1st15.3°C
22738

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 TSX14804.10-156.41
S&P CDNX902.46-6.83
DJIA16806.86-236.04
Nasdaq4420.375-73.016
S&P 5001947.71-24.58
CDN Dollar0.8948+0.0018
Gold1214.80+3.2001
Oil90.32+0.56
Lumber342.00+9.10
Natural Gas4.088-0.033

 
Okanagan Companies
Pacific Safety0.15+0.02
Knighthawk0.01-0.005
QHR Technologies Inc1.25-0.01
Cantex0.065-0.025
Anavex Life Sciences0.1804-0.0036
Metalex Ventures0.0550.00
Russel Metals34.39-0.18
Copper Mountain Mining2.35-0.07
Colorado Resources0.16-0.005
ReliaBrand Inc0.019-0.001
Sunrise Resources Ltd0.065+0.045
Mission Ready Services0.31-0.01

 



23057

FEATURED Property
1995752127 Skyland Drive
3 bedrooms 3 baths
$999,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


Power-save your way to a down payment

Part 2 of 2 to read Part 1, click here. 5. Dial down your vacations. New York is out. Maybe Buffalo. For West coast, maybe Seattle instead of Hawaii. Use sites like Airbnb (aribnb.ca) to find ch...


A wildly successful manufacturer

Niche food producer “Sweets from the Earth” thrives using innovation, uniqueness and an unwavering focus on quality. A neighbour’s stew turned Ilana Kadonoff off meat at the age of s...


Finding the smart money

Recently I had the privilege of working alongside André Voskuil, a local guru in the world of Alternative Financing. André has quite the reputation in the world of direct investments as ...

_





23545


Member of BC Press Council


23504