Keystone XL’s death sparks rush to ship oilsands crude by rail

Financial Post

Oil tankers sit at a rail yard at the Kinder Morgan Inc. facility in Richmond, California. PHOTO BY DAVID PAUL MORRIS/BLOOMBERG FILES

Rail poised to become more important way to send Canadian oil to U. President Joe Biden’s decision to cancel the Keystone XL pipeline is sparking renewed interest in shipping Canadian oilsands crude by rail, and that comes with its own environmental risks. have increasingly turned to trains to move their crude, with oil exports by rail from Canada more than tripling since July. Now, Gibson Energy Inc. Without Keystone XL, which was scheduled to enter service in 2023, rail is poised to become a more important way for Canadian oil to reach U. Gibson expects that by the third or fourth quarter it will start a 50,000-barrel-a-day facility that will maximize the crude content in rail shipments by removing diluent used to move the crude through pipelines to its terminal in Hardisty, Alberta.

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Source: Robert Tuttle, Bloomberg News | Financial Post

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