The Government of Alberta has been forced into buying more oil trains to move crude from the province, the Calgary Sun reports, quoting Premier Rachel Notley as describing the situation with Alberta’s oil as “fiscal and economic insanity.” The trains will have a total capacity of 120,000 bpd and will cost Alberta US$263.77 million (C$330 million). The trains should reach their full capacity late next year and help reduce the discount of Western Canadian Select to West Texas Intermediate by about US$3 (C$4) per barrel. That’s not a lot given the discount between WCS and WTI is more than $40 a barrel, but according to Notley, it would generate US$750,000 (C$1 million) daily in new government revenues. “We have already engaged a third-party to negotiate and work is well under way. We anticipate conclusion of the deal within weeks,” the Premier said at a meeting with business executives. However, […]