Wednesday, August 14, 2013

About Iron Mines, Oil Pipelines, Or More - - Stunning Canadian Lesson

When considering the 'what ifs,' and 'what could go wrong' questions, absorb what has happened in the wake of the recent Canadian oil train tanker catastrophe. The government is shutting down the US-headquartered rail operation responsible because the company's insurance is insufficient to cover the damages.

It appears as if the company has about 10% of the coverage it might need.

The company said its insurance was not sufficient to cover liabilities of up to C$25m ($24.2m; £15.7m), when the clean-up costs may well exceed C$200m.

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