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[CNJRoss]

BloombergBusiness, 11/25:

 

Keystone Rejection Seen Pushing Crude Back Onto Rail Cars

 

• Crude-by-rail exports rise for first time in four quarters
• Keystone rejected earlier this month to fight climate change

 

The first increase in Canadian crude exports by rail in a year is seen continuing after U.S. President Barack Obama rejected the Keystone XL pipeline project earlier this month.

 

Shipments in the third quarter rose 38 percent to about 116,000 barrels a day, the first increase in a year, the National Energy Board said in a report Wednesday. Crude oil transported in western rail cars jumped 22 percent, the biggest gain since 2012, Statistics Canada said in a separate report. Last month’s rejection of TransCanada Corp.’s project to build the Keystone XL crude pipeline to the U.S. will be a “short-term boon” for struggling crude-by-rail shippers, Genscape said in a report Tuesday.

 

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