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Goldman Sachs-backed Firm Invests Big in Shipping Tar Sands by Train Along Keystone XL Route

Oil train tank cars

USD Partners, a rail Terminal operator owned in part by Wall Street giant Goldman Sachs, has signed a nearly three year deal to facilitate moving Tar Sands by train from where it is extracted in Alberta, Canada, to an offloading terminal in Stoud, Oklahoma, in a route mirroring that of the Keystone XL pipeline.

From Stroud, the heavy oil can be sent via pipeline to the nearby oil storage hub in Cushing, Oklahoma. USD's announcement, which said the company could transport up to 70,000 barrels per day of tar sands in rail cars, came in a June 2 filing with the Securities and Exchange Commission (SEC).

The deal, centering around the purchase of the Stroud terminal, also included the acquisition of 300,000 barrels of storage space in Cushing, a town known by oil and gas industry observers as the “pipeline crossroads of the world.” 

Tags: 
Goldman Sachs
Keystone XL
Gulf Coast Pipeline
hillary clinton
oil sands
tar sands
Berkshire Hathaway
Warren Buffett
Alberta
USD Partners
Gary Cohn
Trump Administration
Steve Mnuchin
Steve Bannon


This post first appeared on DeSmogBlog | Clearing The PR Pollution That Clouds, please read the originial post: here

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Goldman Sachs-backed Firm Invests Big in Shipping Tar Sands by Train Along Keystone XL Route

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