• 2 minutes U.S. Presidential Elections Status - Electoral Votes
  • 5 minutes “Cushing Oil Inventories Are Soaring Again” By Tsvetana Paraskova
  • 7 minutes United States LNG Exports Reach Third Place
  • 2 hours https://www.prageru.com/video/whats-wrong-with-wind-and-solar/
  • 1 min The World Economic Forum & Davos - Setting the agenda on fossil fuels, global regulations, etc.
  • 2 hours Here it is, the actual Complaint filed by Dominion Voting Machines against Sydney Powell
  • 2 days Pollster Frank Luntz released a poll today showing 90% of those that voted for Trump in November would vote for him again.
  • 3 hours JACK MA versus Xi Jinping
  • 2 days Do Republicans like Liz Cheney, Adam Kinzinger, Mitt Romney and now McConnell think voting for Impeachment can save the party ? Without Trump base what is the Republican constituency ? It's over.
  • 23 hours Tonight Twitter took down Trump's personal account permanently. Trump responded on the POTUS account.
  • 1 day A Message from President Donald J. Trump - 5 minutes from The White House directly
  • 2 hours Researchers Are Harvesting Precious Metals From Industrial Waste
  • 2 days Minerals, Mining and Industrial Ecology
  • 2 days a In 2020, we produced and delivered half a million cars.
  • 2 days Trump Supporters Just Handed a Huge Propaganda Victory to China
  • 2 days ICE Engines Hear to Stay Regardless of War Against

Rail Owner Voluntarily Moves to Improve Safety of Oil Transport

Derailed trains carrying crude oil from America’s oil patch have become depressingly common, but with the federal government not moving on regulation, the rail industry is taking matters into their own hands. BNSF Railway Company, owned by Warren Buffet, announced that it would buy its own fleet of railcars with enhanced safety standards that go beyond what is required by law. They hope the safer cars will prevent future derailments, and lower the chances of safety incidents like explosions and oil spills.

The move is an interesting one because it is uncommon for railroad companies to own rail cars, instead they typically own tracks and locomotives. BNSF decided to purchase 5,000 rail cars with thicker walls and ends to reduce the chance of them puncturing if derailed.

Related Article: Oil Train Derailments Reaching Crisis Point

The Association of American Railroads, a trade group, set safety standards like these for all cars built after 2011. But, much of the crude oil moving around the country today happens in older cars. The Pipeline and Hazardous Materials Safety Administration (PHMSA) is considering tighter regulations, but has stated that they will not be ready until next year.

But, with oil train accidents reaching a crisis point, even the oil industry and its allies believe action is needed. BNSF decided to take action, and it is not alone. Canadian National Railway Company and Canadian Pacific Railway Ltd. announced in mid-February that they would charge customers a premium for shipping crude oil in the pre-2011 cars to cover the risk. And refineries are making moves too. Phillips 66, PBF Energy Inc., Irving Oil, Tesoro Corp., and Valero Energy Corp. – all involved in refining petroleum products to some degree – have announced varying efforts to phase out older cars and rely much more on the newer, safer rail cars.

By James Burgess of OIlprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News