Canadian National Railway indicated a profit of C$664 million in the third quarter, about 1 percent more than the C$659 million earned in the same 2011 period. Revenue in the third quarter of 2012 was C$2.5 billion, up 8 percent over the third quarter of last year. The growth attribution: increased shipment of domestically-drilled oil.
The demonstrated power of the petroleum industry on geographical economies: domestic drilling, domestic transportation equates to potentially less costly supply chains. Depending on demand fluctuations, lower costs should ensue. The economics indicate this reduced cost ripple’s corporate and personal finance savings will largely be spent, spurring domestic economies.
Discounting geo- and eco-political interests, demand indicates prudence of local energy development. With oil’s current and ongoing usage being of necessity significance, and global supply and cost dependent on factors in flux, makes sense to drill, refine, transport and consume what’s available, locally.
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