US railroads push against oil industry demands for storage in rail cars

  • 📰 ChannelNewsAsia
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 66%

United States News News

United States United States Latest News,United States United States Headlines

Railroads are clamping down on rising demand from oil companies to store crude in rail cars due to safety concerns, sources said, even as the ...

Railroads are clamping down on rising demand from oil companies to store crude in rail cars due to safety concerns, sources said, even as the number of places available to stockpile oil is rapidly dwindling.

However, railroads including Union Pacific and BNSF, owned by billionaire Warren Buffett, are telling oil shippers that they do not want them to move loaded crude trains to private rail car storage facilities on their tracks due to safety concerns, three sources in the crude-by-rail industry said. Even on smaller or mid-sized railroads, known as shortlines, there may be capacity constraints or insurance coverage may not be adequate, the railroads have said, advising rail companies not to store oil.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 6. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US treasury secretary to seek additional US$250 billion for small businessU.S. Treasury Secretary Steven Mnuchin said on Tuesday that he would seek an additional US$250 billion to support small businesses hurt by the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »