First: Southern Pacific Resource Corp will open a dedicated rail terminal in a few weeks, to ship oil to the US, bypassing Cushing --
In a market where heavy crude sells at a huge discount and pipeline space is at a premium, one oilsands producer has found a way around the bottleneck.
Southern Pacific Resource Corp., which began trucking out initial production from its new McKay Thermal Project three weeks ago, will open a dedicated rail terminal in a few weeks just south of Fort McMurray and ship its product in leased tanker cars via CN Rail all the way to Natchez, Miss.
From there, it's just a short barge ride down the Mississippi River to one of the eight refineries in Louisiana, where the crude will fetch $20 to $30 a barrel more than it could at the congested terminal hub in Cushing, OK.And, second: this story is much of the same, but there are some data points of interest.
The comments are particularly interesting. The faux environmentalists have helped the crude-by-rail industry beyond expectations.
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