Dangers Aside, Railways Reshape Crude Market

Shipping Crude by Rail Expands as New Pipelines Hit Headwinds and Train Companies Reap Revenue

By Russell Gold and Chester Dawson

In May 2008, a locomotive with a grizzly bear painted on its side pulled into a railroad siding next to an abandoned grain elevator in the ghost town of Dore, N.D. The engine, property of the Yellowstone Valley Railroad, hitched up a couple of tank cars of crude from nearby oil wells and set off on a thousand-mile journey to Oklahoma.

Dore would never be the sameβ€”and neither would the U.S. energy industry. Until then, most oil pumped in North America moved around the continent in pipelines. Suddenly, and just as the oil industry began a period of unprecedented growth, there was an alternative: “crude by rail.”

Read more here.

Read Full Article

This is a unique website which will require a more modern browser to work! Please upgrade today!