By Frederic Tomesco, Bloomberg; July 31, 2018
Crude oil demand may be on the rise again, but Canadian National Railway Co.’s new leader insists energy shipments won’t displace longtime railroad staples such as grain and lumber.
Grain farmers in the western Prairie provinces saw exports slow to a crawl when Canadian National proved unable to cope with a surge in demand starting in the second half of last year. In March, with bottlenecks and customer complaints mounting, Canada’s biggest railroad ousted then-Chief Executive Officer Luc Jobin — prompting his successor, Jean-Jacques Ruest, to boost capital spending to a record C$3.5 billion ($2.7 billion) to start fixing the logjams.
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