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or Name
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CA



Enbridge Inc
Symbol ENB
Shares Issued 856,712,928
Close 2015-08-31 C$ 54.37
Market Cap C$ 46,579,481,895
Recent Sedar Documents

Van Sun/wire say CN, CP hauling much less crude oil

2015-08-31 06:52 ET - In the News

See In the News (C-CP) Canadian Pacific Railway Ltd

The Vancouver Sun reports in its Saturday edition Canadian exports of crude by rail that soared in boom times are crashing, and there is more to come, say experts. A Bloomberg dispatch to The Sun says the appeal of moving oil on trains is increasingly diminished by pipeline expansions, slower output growth and tighter margins between prices in Canada and delivery points in the United States, said analyst Carl Evans at energy data provider Genscape Inc. in Boulder, Colo. "I don't see rail being a huge option in the next three to four years, unless there's a pipeline explosion that forces volumes elsewhere," Mr. Evans said. "This is a longer-term trend." The start-up of pipeline expansions including Enbridge's Line 67 in July and more pipeline capacity to come in the U.S. mean rising competition for the crude-by-rail industry. At the same time, the lowest crude prices in almost six years have led producers to scrap projects and cut drilling programs. In the second quarter, Canadian exports of crude by rail fell to 83,605 barrels a day, just over half the volumes of a year earlier. The amount exported was the lowest since late 2012.

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