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Strategies & Market Trends : Dino's Bar & Grill

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To: Goose94 who wrote (66756)	9/17/2019 7:16:21 AM
From: Goose94	Read Replies (1) of 203702

Canadian National Railway (CNR-T) crude by rail Alberta Premier Jason Kenney says the province is in talks with oil patch to increase its production ceiling for crude shipped by train after the weekend attacks that reduced Saudi Arabian output. Talks are tied to the province's effort to transfer contracts for 4,400 rail cars held by the government to energy companies. If the province can find a way to transfer the railcar leases to the industry, Mr. Kenney says it is "very likely" that the additional crude shipped by rail would be exempt from the production limits. Increasing Alberta's crude production -- which was curtailed by the previous NDP government -- would be one way Canada can help deal with any worries of global shortages that stem from the attacks, which forced the Saudis to reduce their production by more than half. It is unlikely, however, to have a significant effect on global crude prices. RS Energy economist Judith Dwarkin says the world's emergency stockpiles, estimated at about 1.8 billion barrels of oil, along with recent rapid growth in U.S. production, should reduce the risk of crippling price jumps.

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