Update On CBR From North Dakota -- June 18, 2016

I am surprised. I can't find a recent "million dollar way" post on ND CBR despite many, many stories in the national business media on less crude oil being transported by rail. I was going to add this story as an update to an earlier post, but without a recent earlier post to update, this will have to be a stand-alone post.

From The LaCrosse Tribune:

With lower crude oil prices, North Dakota drillers dramatically cut production over the past winter and spring, but trains continue to roll through Midwestern communities loaded with the volatile cargo.

Data released this week by the U.S. Energy Information Administration show that even as overall volumes of crude rail shipments fell last year, the amount of crude on the nation’s rails last year was still higher than in any year prior to 2014. The 325.8 million barrels was more than twice what was shipped in 2012 and 16 times the level in 2010.

In the first three months of this year, more than 33.6 million barrels of oil were shipped by rail from Midwestern rigs. That works out to more than five fully-loaded trains each day. At the peak of the Bakken oil boom it was about 12 trains per day.

Note to newbies: even if pipeline capacity exceeds supply in the Bakken, CBR won't go away anytime soon. RBN Energy has addressed that recently.