A Modest Proposal To End Western Canada’s Railway Pinch

JWN Energy Group’s Daily Oil Bulletin
5 February 2018

A new Western Canadian oil pipeline pinch had been widely predicted for the fourth quarter of last year. The corresponding increase in regional oil price differentials was expected to be gradual and moderate, with Canadian National Railway (CN) and Canadian Pacific Railway (CP) coming to the rescue of oil shippers, just as they did earlier this decade. Instead, the railways are playing hardball with the shippers, and regional crude price differentials have blown sky high — accentuated by a mid-November accident on the South Dakota leg of TransCanada’s Keystone pipeline.

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