Alberta investing $3.7B to move oil by rail, leasing cars

EDMONTON — The Alberta government says it’s investing $3.7 billion to move the province’s land-locked oil to market by rail.

It says 4,400 leased railway cars will move up to 120,000 barrels of oil per day by 2020.

Shipments are expected to begin as early as July.

The province estimates the plan will lead to a $5.9-billion increase in royalties, tax revenues and profits over three years, meaning a net gain of $2.2 billion.

It expects the discount for Western Canadian heavy oil versus U.S. light crude will shrink by US$4 a barrel.

The rail investment is meant to be a medium-term measure as new pipelines to coastal ports, such as the Trans Mountain expansion to the West Coast, remain in limbo.

The Canadian Press

Just Posted

City of Red Deer to explore better — but not costlier — ways of residential snow plowing

Too many public complaints came in last winter, says city councillor

Alberta government won’t seek meeting with teen enviro-activist Greta Thunberg

EDMONTON — The Alberta government won’t seek out a meeting with teen… Continue reading

Roughly 13,000 without power days after snowstorm pummels Manitoba

WINNIPEG — The farm that has been in Jamal Abas’ family for… Continue reading

Red Deer city council supports proposed changes to police funding model

But more factors should be considered to achieve ‘equitable funding strategy’

Trudeau, Singh jockey for ‘progressive’ votes while Scheer fights in Quebec

OTTAWA — As Liberal Leader Justin Trudeau and New Democrat opponent Jagmeet… Continue reading

Your community calendar

Wednesday Red Deer River Naturalists Flower Focus Group Meeting. When: Oct. 16… Continue reading

Alberta government won’t seek meeting with teen enviro-activist Greta Thunberg

EDMONTON — The Alberta government won’t seek out a meeting with teen… Continue reading

Michael Frolik gets goal in 800th NHL game, Flames down Flyers

Flames 3 Flyers 1 CALGARY — Michael Frolik scored in his 800th… Continue reading

Wild-card Nationals head to World Series with sweep of Cards

Nationals 7 Cardinals 4 (Washington wins series 4-0) WASHINGTON — It was… Continue reading

Roughly 13,000 without power days after snowstorm pummels Manitoba

WINNIPEG — The farm that has been in Jamal Abas’ family for… Continue reading

Marner has three points to help lift Maple Leafs over Wild

Maple Leafs 4 Wild 2 TORONTO — Mitch Marner had a goal… Continue reading

Trudeau, Singh jockey for ‘progressive’ votes while Scheer fights in Quebec

OTTAWA — As Liberal Leader Justin Trudeau and New Democrat opponent Jagmeet… Continue reading

Canada beats U.S., ends 34-year, 17-game winless streak

Canada 2 United States 0 TORONTO — After years of watching from… Continue reading

Most Read