As politicians debate the dangers of a massive increase in oil carried by rail in North America, railroads and energy producers are considering the same for natural gas.
Buoyed by the unexpected success of crude by rail, companies are beginning to consider transporting natural gas as remote drilling frontiers emerge beyond the reach of pipelines, executives said.
Natural gas by rail is years away and likely to face strong public resistance after a series of explosive crude-by-rail accidents. But the potentially multibillion-dollar development could connect gas-rich regions like North Dakota with urban centers, presenting an opportunity for railroads, drillers and tank car makers already cashing in from hauling oil on trains.
It could also be a cure for environmentally unfriendly flaring, a growing problem in far-flung areas where more than $1 billion of natural gas produced alongside oil is burned off each year for lack of processing plants or pipelines that can take years to build.Speaking of " railroads, drillers and tank car makers already cashing in from hauling oil on trains," Berkshire Hathaway/Warren Buffett reported 41% increase in profits this last quarter; and, Warren's company now has the most cash ($50 billion) on hand of any company in the United States. Warren owns Burlington Northern Santa Fe, the #1 mover of crude oil in the United States, possibly in North America. You can bet that Warren's 41% increase in profits wasn't from selling ice cream cones at Dairy Queen, especially not in the second quarter. By the way, this was Warren Buffett's biggest quarter ... ever. He can thank Mr Bakken.
What should Warren do with all that cash? Buy Union Pacific. LOL.
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Cocktail Trivia
I did not know this. Reuters via Rigzone is reporting:
The summit aims to showcase American interests in the region, home to six of the 10 of the world's fastest-growing economies and the fastest-growing middle class, through public-private partnership deals.The region? Africa.
I would have guessed China had six of the 10 fastest growing economies, followed by Dickinson, Watford City, Williston, and Parshall.
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