Current prices would seem “far too low” if governments fulfill pledges for green infrastructure and electric-vehicle incentives, Concord Resources said.
Cenovus Energy Inc. and Imperial Oil Ltd. have increasingly turned to trains to move their crude, with oil exports by rail from Canada more than tripling since July.
The Biden administration has gotten off to a rough start trying to reassure coal miners and oil workers whose jobs are threatened by the president’s fight against climate change.