The two nations are building emergency stockpiles with millions of barrels of crude that mirror the reserves of oil and refined products that the U.S. and its western allies amassed after the first oil crisis of 1973 to 1974.
The oil and gas industry saw 112 workers die in 2013, the latest figures available from the U.S. Bureau of Labor Statistics. That’s up 31 percent from 2003. Meanwhile, producers and drillers doubled their workforce in the same period, to 507,000.
The latest Transport Canada proposals, published online Wednesday, go beyond earlier announcements by requiring rail cars carrying crude to have thicker steel, full “head shields,” mandatory thermal “jacket” protection among other upgrades.
Gasoline’s crack, or premium to Brent crude, rose to $13.46 a barrel on Tuesday, the highest since April 29, according to PVM Oil Associates Ltd, one of the largest brokers for the fuel, before falling to $13.13 at 1:21pm London time.
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