Canada’s rail system is facing a systemwide shutdown before the end of the month after the country’s rail workers voted in favor of a strike, their union announced on May 1.
The union, representing more than 9,000 employees at Canadian National Railway and Canadian Pacific Kansas City, announced that 95% of its members approved of a strike.
The dispute centers on wage increases and scheduling changes. The union rejected Canadian National’s offer for wage boosts, scheduled consecutive days off, provisions for no layoffs and reduced hours from home.
Giving the union permission to call a strike is not the final action before a work stoppage. The railroad companies and the union entered a 21-day “cooling down” period with federal mediation, meaning a strike could begin as early as May 22 if an agreement is not reached, disrupting the transport of products including coal, minerals and petroleum beyond the Canadian border.
The companies’ contracts for engineers, conductors and yard workers expired at the end of 2023, and negotiations have been ongoing for six months.
Recommended Reading
E&P Earnings Season Proves Up Stronger Efficiencies, Profits
2024-04-04 - The 2024 outlook for E&Ps largely surprises to the upside with conservative budgets and steady volumes.
U.S. Shale-catters to IPO Australian Shale Explorer on NYSE
2024-05-04 - Tamboran Resources Corp. is majority owned by Permian wildcatter Bryan Sheffield and chaired by Haynesville and Eagle Ford discovery co-leader Dick Stoneburner.
CEO: Coterra ‘Deeply Curious’ on M&A Amid E&P Consolidation Wave
2024-02-26 - Coterra Energy has yet to get in on the large-scale M&A wave sweeping across the Lower 48—but CEO Tom Jorden said Coterra is keeping an eye on acquisition opportunities.
Baker Hughes Awarded Saudi Pipeline Technology Contract
2024-04-23 - Baker Hughes will supply centrifugal compressors for Saudi Arabia’s new pipeline system, which aims to increase gas distribution across the kingdom and reduce carbon emissions
BP Restructures, Reduces Executive Team to 10
2024-04-18 - BP said the organizational changes will reduce duplication and reporting line complexity.