It's a big story for several reasons. This is the story that caught my eye: the writer throws in this stand-alone non sequitur:
Rail traffic is seen as a useful gauge on the health of the US economy.The statement is true, but it is not a conclusion that can be reached simply because "US petroleum products rail volumes increased 65% yoy."
Petroleum by rail is increasing because of the huge amount of oil being produced where there is inadequate infrastructure. And is continuing because producers see at least three advantages to shipping oil by rail.
In fact, according to the article, considering all rail activity, "cumulatively, total US rail carloads originated are down 3.1%." Now, one can say: rail traffic is seen as a useful gauge on the health of the US economy.
But oil shipments are pretty much just keeping the railroads alive/solvent (see below) now that a) coal is dead; and, b) we are heading toward the ObamaCliff.
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Wells coming off confidential list have been posted.
RBN Energy: condensates and pricing.
Grand Forks Concrete says they would not be operating if it weren't for the Bakken. That's true for many, many companies.
Dick Edgar said western North Dakota oil development has kept his Grand Forks concrete plant in operation and offers millions of dollars in opportunities for other companies, if only they can find a way in.“My plant in Grand Forks right now would be shut down if it wasn’t for the Bakken,” said Edgar, the business development director for Wells Concrete in Grand Forks, referring to the Bakken oil play, the main driver of petroleum production in North Dakota.I've been working on the railroad ... stories:
- Plains All American buys four oil loading rail terminals, Trainorders.com, yesterday
- Oil saves BNSF, Chicago Tribune, old story
- Oil bonanza creates a railroad boom, CSM, old story
- Cover story, American Oil and Gas Reporter, old story
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