real-time news and commentary for investors
Friday, Oct 18
Quebec train fire prompts new crude-by-rail shipping rules
- Canada has introduced new rules requiring stricter labeling of crude oil shipped by rail in an attempt to improve safety following the deadly rail accident in Quebec earlier this year.
- The new rules likely will lead to additional cost burdens on crude-by-rail shipments, which already are more expensive than oil shipped by pipelines.
- Canadian National Railway (CNI +0.3%) and Canadian Pacific (CP +0.7%), Canada’s two biggest railroad operators, have yet to comment on the new rules.