Canada: Alberta’s plan to lease rail cars to move stuck crude expected to reap $2.2 billion in profit

By Lisa Stevens, Dover Daily News; April 5, 2019

Alberta is preparing a giant crude-by-rail operation to help its oilsands producers cope with a pipeline crunch, and it expects a big profit from the venture.

The Canadian province, which holds the world’s third-largest crude reserves, plans to net $2.2 billion (US$1.7 billion) after investing $3.7 billion to lease tank cars and buy service from rail providers, generating $5.9 billion from sales and increased royalty and tax revenue, according to a statement on Tuesday.

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