The Canadian Pacific rail line winds through the Bow Valley just outside of Banff.
Photographer: Gavin John/BloombergOil Baron Confronts Skepticism Over His $1.5 Billion Railroad to Banff
Adam Waterous is on a quest to relieve car congestion in the mountain paradise of Banff National Park, but conservationists are dubious about his plans
Adam Waterous built Strathcona Resources Ltd. from nothing into one of Canada’s major oil producers during a period of slumping energy prices, sour investor sentiment on the sector and the panic of the Covid-19 pandemic.
But the billionaire says another of his pursuits — building a rail line from Calgary to the mountain paradise of Banff for as much as C$2 billion ($1.5 billion) — is turning out to be the more difficult undertaking.