Crude-by-rail Update: Minister Savage

Energy Minister Sonya Savage issued the following statement regarding the next steps for the crude-by-rail program:

“According to industry forecasts and statements by producers, the future of crude-by-rail in Alberta is very bright – and will continue to be so, without government interference.

“We have said from the beginning that shipping crude by rail is something that the private sector is in the best position to be doing itself.

“Our government is taking the next step in shifting the former government’s crude-by-rail program to the private sector. The Alberta Petroleum Marketing Commission has engaged CIBC Capital Markets to help oversee the divestment of the crude-by-rail program and its transition to the private sector.

“This process involves highly confidential commercial negotiations and we anticipate divestment from the previous government’s program will be completed this fall.

“As a government, we are accountable to the taxpayer. We will leave crude-by-rail in the hands of the private sector while making decisions that ensure the best outcomes for Albertans and our energy sector.”