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Canadian Pacific feeling pinch of oil price plunge

from The Globe and Mail

Canadian Pacific Railway Ltd. became the latest rail carrier to signal it is feeling the pinch of the plunge in oil prices. Keith Creel, CP's chief operating officer, said at an investors' conference in New York that the company's previously issued forecast for a 27-per-cent increase in crude carloads to 140,000 was a "question mark." "The world has changed around us," said Creel, referring to the drop in oil prices that has energy companies slashing budgets, staff and drilling. "Let me tell you what's not hot. Crude's not." more


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