After $3 Billion Spent, Keystone XL Can’t Get Oil Companies to Sign On
- Thread starter mentalfloss
- Start date
TransCanada liquids pipeline president Paul Miller said during the Calgary-based company’s third quarter earnings call this month it had received enough support from oil companies who would ship their crude on the line to proceed with the project. The company had been seeking commitments of roughly 500,000 bpd.
The company has yet to officially sanction the project but is widely expected to do so as Canada’s oil export pipelines are full and more domestic crude is being exported from the country on rail cars.
Research from AltaCorp Capital published in October shows that crude-by-rail shipments this year are on pace to match a record of 53 million barrels set in 2014 as a result of pipeline restrictions.
132 1/2 Million bbl per year.
Nice!
The company has yet to officially sanction the project but is widely expected to do so as Canada’s oil export pipelines are full and more domestic crude is being exported from the country on rail cars.
Research from AltaCorp Capital published in October shows that crude-by-rail shipments this year are on pace to match a record of 53 million barrels set in 2014 as a result of pipeline restrictions.
132 1/2 Million bbl per year.
Nice!
I don't know what that means. I do know that you make less money when you ship oil by rail therefore they will try to ship as little of it as they can by rail.
$5 a bbl puts some producers out of business.
