|  Christine Marie Nielsen

Alberta Buying Tank Cars to Transport Crude Oil; Narrow Price Differential

The Canadian Alberta province has announced a plan to purchase tank rail cars in an effort to increase the transport of crude oil out of the region and narrow the historical price gap that is estimated to cost the national economy more than $80 million a day. The question now is if transportation contracts can be secured.

The Alberta government announced in a press release Wednesday that its goal is to create enough rail capacity to move 120,000 barrels a day out of the province to markets where oil can “earn the best value possible for three years, starting late 2019.”

The Western Canadian region has been plagued with problems bringing pipeline projects - on which it’s spent b...

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