#Canada; #CNRailStrike; LossToCanadianEconomy; #IndustrialFacilitiesShutDown
Ottawa, Nov 20 (Canadian-Media): Canadian Prime Minister Justin Trudeau had been urged by industry leaders and other leaders from a variety of sectors, such as agriculture and manufacturing to end Canadian National (CN) Rail strike pointing to the loss of Canadian economy as some industrial facilities have already shut down because of the work stoppage, media reports said.
CNRail. Image credit: Twitter handle
CN is a true backbone of the economy transporting more than C$250 billion worth of goods annually for a wide range of business sectors across a rail network of approximately 20,000 route-miles spanning Canada and mid-America.
As a result of the unsuccessful negotiations on a new contract for workers, who have been without a contract since July 23, about 3,200 conductors, train persons and yard workers had walked off the job on Tuesday.
Unable to store more than a few days' worth of their products, most chemical production facilities had to halt production so soon. Farmers who've already experienced a challenging year because of weather ranging from excess moisture to drought had also been hit by commodity prices.
The timing of the strike couldn't be worse, said Dave Bishop, coming during the tail end of the harvest when farmers are trying to sell their crops.
The oil industry is closely watching the situation at CN Rail, since 60 per cent of crude-by-rail exports in Canada are transported by the Montreal-based company.
"If they get this thing settled within the next five to seven days, the impact should be pretty minimal," said Martin King, a senior commodities analyst with RBN Energy.
"If it starts dragging on beyond a week or 10 days, you'll start to notice more of an impact," he said.
Crude oil shipments were on the rise by CN Rail leading up to the work stoppage. The data in this chart includes the shipment of all petroleum products. Image credit: Martin King/RBN Energy
The most impact of the strike would be felt in Western Canada, said Barry Prentice, a transportation economist at the University of Manitoba, considering its resource base such as mining, agriculture and oil.
About $250 billion worth of goods are carried annually by the company.
About 20 percent of CN Rail's total revenue is accounted for by Petroleum and chemicals, followed by grain and fertilizer with 16 percent and forest products with 13 percent.
Conservative Leader Andrew Scheer had also urged Trudeau to immediately recall Parliament to enact emergency legislation to end CN rail strike.