Friday, March 14, 2014

Crude oil delivered on U.S. railways increased 74 percent in 2013, should keep rising in 2014

The amount of crude oil delivered on U.S. railways in 2013 increased 74 percent from 2012, with U.S. railroads delivering 407,642 carloads of crude oil in 2013, up from 233,819 in 2012, according to a report from the Association of American Railroads. The increase in shipments has led to safety concerns, especially since more oil was spilled in U.S. railway accidents in 2013 than in the previous 37 years combined, and 47 people were killed in a crash in July in Quebec.

In 2013 U.S. railways delivered 285 million barrels of crude oil, reports United Press International. "The U.S. Energy Information Administration said in its short-term market report, published earlier this week, U.S. crude oil production should reach 8.4 million barrels per day by the end of 2014, a 12 percent increase from the previous year." (Read more)

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