TransCanada eyes shipping crude by rail amid Keystone XL delays, CEO says


TransCanada (TRP) is in talks with customers about shipping Canadian crude to the U.S. by rail as an alternative to its Keystone XL pipeline project that has been mired in political delays, CEO Russ Girling says in his first comments confirming growing speculation that the company might use more costly - and more dangerous - railway shipments as a stopgap alternative to the pipeline.

Girling says TRP is exploring shipping crude by rail from Hardisty in Canada, the main storage and pipeline hub, to Steele City, Neb., where it would flow into an existing pipeline to the Gulf refining hub.

"It's an irony that the adamant opposition of environmental organizations and others against oil sands-derived crude have actually created a phenomenal opportunity for rail to pick up the slack," says Morningstar analyst David McColl.

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Comments (8)
  • bakermre
    , contributor
    Comments (378) | Send Message
     
    • "It's an irony that the adamant opposition of environmental organizations and others against oil sands-derived crude have actually created a phenomenal opportunity for rail to pick up the slack," says Morningstar analyst David McColl. NOT AN IRONY AT ALL, DAVID! Go back to July 14, 2010, when Warren Buffett visited President Obama at the White House; no transcripts nor reports on the content or purpose of those talks have been published. You should investigate! Guess what Warren did after that historic tet-a-tet? Suddenly the environmental lobbyists and the Democratic left swung into high gear against the Keystone XL pipeline plan. In contrast, Buffett, (lone among all highly wealthy people), came out in favor of Obama's attack on high income people and Obama's call to raise their taxes. Buffett put his personal money where his mouth was, too, giving to Obama's re-electioin campaign generously.
    Guess what? thousands of Burlington Northern S.F. R.R. tank cars, full of Bakken and Canadian oil- sands crude keep rolling south every week, brimming over at huge profit to Berkshire Hathaway, their owner (Buffett CEO/Chairman of course). Never ever did any environmentalist grumble, howl or demonstrate against Burlington Northern S.F. R.R. oil tank car traffic! Why don't you investigate this story, David? IRONY? Hardly!
    21 May 2014, 06:51 PM Reply Like
  • Ruffdog
    , contributor
    Comments (3103) | Send Message
     
    Don't fool yourself! All the environmentalist are waiting for an accident to band transporting Canadian crude by rail all together.
    22 May 2014, 05:24 PM Reply Like
  • Hendershott
    , contributor
    Comments (1734) | Send Message
     
    TRP would do well to keep out of the press with this.
    21 May 2014, 07:22 PM Reply Like
  • tomdgascop
    , contributor
    Comments (96) | Send Message
     
    Warren Buffett has been enjoying all the benefits of delaying the pipe line. As long as the oil is being transported by rail that his pockets are over flowing .He has his big mouth into Obama’s ears.That’s why Obama does nothing he’s going to look into it a decision will be made soon just like he looked in to IRA problem and fast and furious also Benghazi and Obama care problems and now the VA problem .What leadership now the worst President ever, sorry Jimmy Carter move over
    22 May 2014, 08:26 AM Reply Like
  • granger
    , contributor
    Comments (2815) | Send Message
     
    Petroleum Coke: the coal hiding in the tar Sands - Petcoke http://bit.ly/1gZK9wx
    22 May 2014, 09:04 AM Reply Like
  • lorneb
    , contributor
    Comments (301) | Send Message
     
    If the referenced report was not so boringly repetitive it might be easier to determine if it is balanced and factual or just a one sided rant. I would like to see a vetting of the report by an unbiased scientific research body because who is to say the writers are not just producing what they want us to believe. Remember Farley Mowatt's words "never let facts get in the way of a good story". Whenever someone uses excessive repetition in their writings it causes me to wonder the reason for that repetition.
    22 May 2014, 11:20 AM Reply Like
  • Nawar Alsaadi
    , contributor
    Comments (440) | Send Message
     
    Canexus is still one of the best ways to get exposure to the Canadian bitumen by rail trade:

     

    http://seekingalpha.co...

     

    I wouldn't be surprised if TransCanada or Enbridge makes an offer for their NATO terminal or at least partner with them on the project.

     

    Regards,
    Nawar
    22 May 2014, 11:17 AM Reply Like
  • G13Man
    , contributor
    Comments (500) | Send Message
     
    Canada would be smart to build their own pipes in their own country and a refinery as well . Think of the money they could keep to themselves . Plus the delay would make it worth even more by then ...
    22 May 2014, 01:03 PM Reply Like
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