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Regulators call for tougher standards for shipping crude oil by rail

  • Crude oil shipped by rail requires stronger tank cars and safer routes, transportation investigators in the U.S. and Canada say following a series of accidents in North America.
  • The U.S. National Transportation Safety Board and Canada's Transportation Safety Board issued recommendations today as part of a probe into last July's derailment of rail cars filled with oil in Quebec.
  • "The large-scale shipment of crude oil by rail simply didn't exist 10 years ago, and our safety regulations need to catch up with this new reality," NTSB chief Deborah Hersman says.
  • CNI, CP, BRK.A, BRK.B, CSX, UNP, NSC, KSU, GWR.
Comments (12)
  • Tack
    , contributor
    Comments (12680) | Send Message
     
    First, smother the Keystone pipeline. Then, strangle oil rail traffic. Then, of course, blame "Big Oil" companies when consumer oil and gasoline prices rise.

     

    Typical liberal game plan.
    23 Jan, 03:45 PM Reply Like
  • dougmccown
    , contributor
    Comments (28) | Send Message
     
    No. First, pollute the holy bejesus wherever necessary. Don't clean it up. Don't help the victims. Enrich lobbyists to ensure that the rich get richer. Yeah. Right on.
    23 Jan, 04:27 PM Reply Like
  • brianhutch
    , contributor
    Comments (240) | Send Message
     
    More regulation equals greater expenses for KSU etc .
    Bang goes their profit picture and at a PE of almost 40 with P/S of 5.77 look out below for the stock after the bonehead speculators jump in tomorrow morning when KSU beats by a few cents .
    If it doesn't beat it will happen sooner
    It is going to repeat 2008 action but has a long way to go even to hit its old 2008 high of $55
    23 Jan, 03:45 PM Reply Like
  • slash32is4
    , contributor
    Comments (115) | Send Message
     
    use more coal
    23 Jan, 03:48 PM Reply Like
  • Gary Jakacky
    , contributor
    Comments (2392) | Send Message
     
    Yes, Tack...a crock indeed. Incompetence on the part of one agency leads to more regulation by another.
    23 Jan, 03:52 PM Reply Like
  • chicagomary
    , contributor
    Comments (79) | Send Message
     
    Here in Chicago we had TWO car/train accidents in the past 24 hours both with fatalities. a father drove thru gates and noise in press will be more train rules! Not the train's fault!
    23 Jan, 04:46 PM Reply Like
  • dancing duke
    , contributor
    Comments (42) | Send Message
     
    yes this will happen.Just think what it will do to trinity and greenbrier.
    i take them to my bank.

     

    As for the rails they will continuing chugging along to my bank also.
    yea regulation is needed and by the time obama might ever approve
    the keystone we will all be old.
    COUNT ON IT
    23 Jan, 04:47 PM Reply Like
  • patriot_invstr
    , contributor
    Comments (38) | Send Message
     
    Aww, Poor Warren Buffet will have to modernize his train set. Maybe that will inspire the regime to finally approve the Keystone XL, but I am not holding my breath.

     

    At any rate, how does this affect CSX? I haven't heard that they do a lot of oil shipments.
    23 Jan, 06:04 PM Reply Like
  • Belaire
    , contributor
    Comments (10) | Send Message
     
    Buffett will be just fine, Berkshire owns a company that makes rail cars.
    24 Jan, 01:48 AM Reply Like
  • chicagomary
    , contributor
    Comments (79) | Send Message
     
    what company is that?
    24 Jan, 08:24 AM Reply Like
  • Belaire
    , contributor
    Comments (10) | Send Message
     
    Some good reading on the topic.

     

    T.

     

    http://bloom.bg/1boZChL
    25 Jan, 11:12 AM Reply Like
  • Dave"T"
    , contributor
    Comments (29) | Send Message
     
    The situation in Quebec was due to improper training by the local fire department, which failed to ensure that the train was secured after a fire in one of the engines Anyone familiar with diesel systems would know that the brakes should be set if you shut the engines down. This horrific accident had nothing to do with the rail company, the tanker's design, or the operator.
    One situation in the US I do not understand was the soy bean freight car derailment which the oncoming crude oil freight was not aware of. I thought they had communications between train operators so these types of accidents did not happen.
    24 Jan, 10:25 AM Reply Like
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