CP responds to "growing demand" for rail service for crude oil

03/21/2012 | FoxNews.com

Canadian Pacific expects it will haul 45 million barrels of Bakken-region oil annually within a decade as it responds to an "unprecedented growth in the energy industry," said CP spokesman Ed Greenberg. Railroads are the best alternative for crude oil shipments amid pipeline woes, according to Michael Ervin, a petroleum industry analyst. "The use of rail as a short-term solution to pipeline capacity limitations was a likely approach either with or without the additional production," Ervin added.

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