Canadian Railway Industry Essay

1391 words - 6 pages

There are two main firms who are part of the Canadian Railway Industry, the Canadian Pacific Railway and the Canadian National Railway. The Canadian Pacific Railway is a Class I rail carrier that was founded in 1881 and was formerly known as the CP Rail. The CPR is 22,500 kilometres of track that spreads all across Canada and into some parts of the United States. In more detail the Canadian Pacific Rail stretches from Montreal to Vancouver, farthest north Edmonton and also only serves major cities in the United States such as Detroit, New York City, Chicago, and Minneapolis. The Canadian Pacific Railway consists of many train services from freight trains, passenger trains and express trains and many special trains that many more. These special trains include silk, funeral, royal, school, steam, spirit and holiday trains. In 1986 the passenger services were slowly becoming diminished because of being consumed by Via Rail Canada in 1978. Canadian Pacific not only supplied railway services but many others such as; radio, steamships, telegraphs, hotels and even the Canadian Pacific Airlines.
The second main firm that has dominated the Canadian Railway Industry alongside CPR is the Canadian National Railway (CNR). Together they represent more than 75% of the industry's tracks and 95% of the Canada's annual rail tonne kilometres. Presently known has the Canadian National (CN), the railway was formerly known as the Canadian National Railway. The CN unlike the CPR is the largest railway in Canada, it has 32,831km of track which is approximately 12,000 more than the Pacific Railway. It spans from as west as British Columbia all the way to Nova Scotia. Also because of the railways numerous purchases of smaller US railways, the Canadian National Railway also has a lot of track in central United States. The tracks travel along the Great Lakes, Mississippi River all the way to south to the Gulf of Mexico. The CN also supplied various services aside from just rails, like the CPR there was the CN telegraph, radio, hotels and ships. Although the similar services to the Canadian Pacific Railway, the Canadian National did not have as many trains. The Canadian National carried only the simple trains such as; steam, electric, turbo, diesel, freight cars and passenger trains which was also consumed by VIA rail.

Since there are mainly two fairly big firms who take charge of the Canadian Railway Industry, my hypothesis as to what market structure it fits under was very clear. The Canadian Railway Industry is an oligopoly. In an oligopoly, there are four main assumptions this type of market structure must pertain to; number of members, ease of entry, the information it is willing to share and the products or services they supply. There are also two types of oligopoly; a perfect and imperfect oligopoly, the difference between these market structures is that with perfect oligopoly products are identical compared to the imperfect oligopoly. Within an oligopoly there...

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