Posted on 05/14/2014 2:14:44 PM PDT by SeekAndFind
The Keystone XL Pipeline got another nail in its coffin Monday, in the form of a Senate energy vote that excluded the pipeline issue. But Keystone was already near death thanks to the Obama's administration's recent decision to ignore the evidence of a definitive government study—and instead keep listening to environmentalists' dubious claims. The upshot will be more political fires in Washington caused by train derailments in the absence of a pipeline to transport oil more safely.
After the derailment in downtown Lynchburg, Va., on April 30, approximately 30,000 gallons of Bakken crude oil burned or spilled into the James River. On May 9, a derailment north of Denver spilled another 6,500 gallons of oil, which was contained in a ditch before reaching the South Platte River. Fortunately, unlike in the 2013 derailment in Quebec where a 1.3 million-gallon spill killed 47 people and incinerated 30 buildings, no one was injured in Lynchburg or Colorado.
These and other tank-car derailments are prompting local, state and federal officials to consider various regulations to reduce the threats of such accidents, including lower train speed limits and safer tank cars. Unfortunately, few policy makers are doing sensible risk assessment.
Clearly, we are going to continue moving crude oil and petroleum products from where they are extracted to where they are needed. When considering whether to approve the Keystone XL, therefore, the question has to be: Which is safer, pipeline or rail tank cars?
President Obama's own State Department answered the comparison question plainly in February. According to the report, pipelines larger than 12 inches in diameter in 2013 spilled more than 910,000 gallons of crude oil and petroleum products—compared with 1.15 million gallons for tank cars, the worst in decades.
(Excerpt) Read more at online.wsj.com ...
How did we survive the pre-WWII and WWII years with the rails carry all that War Oil????
As always...JUST FOLLOW THE MONEY....
Canadian Oil and the Keystone Pipeline
Burlington Northern Santa Fe(BNSF) Railroad owns all of the rail lines in the US connecting to western Canada, and they haul 80%+ of the crude from Canada to the midwest and Texas, or charge other Short Line railroads a fee to use their tracks.
BNSF charges $30 per barrel to haul the oil, where the Keystone would cost $10 by the State Departments own estimates.
BNSF is owned by Berkshire-Hathaway whose chairman is Warren Buffet.
In the last 2 election cycles, Buffet gave extensively to democrat causes and candidates, including $40K+ to Obama in 2012. He also bundled and hosted numerous fundraisers for Obama.
If anyone here believes the pipeline isn’t being blocked by Obama on Buffets behalf, you’re nuts.
Buffet could stand to lose $2B+ a year if the pipeline goes in, and he makes the same amount every year it’s delayed.
Of course it does but Obongo and his buddies have to keep Mr. Buffet happy!!!!!!!!!!!!!!!!!!!!!
Well, we survived Pintos of the 70’s.
time to load up on Rail stock and companies that building tanker cars like TRN....
He's also good at parroting all the Democrat talking points. He's a better rent seeker and tax avoider than an investor.
How much oil will that pipeline deliver vs. how much oil needs to be delivered.
I don’t think the pipeline will handle all of the oil. A lot of it will still be shipped by rail even after the pipeline is built.
I don’t know the volume that a pipeline can deliver but I do know the pipeline will not get the oil to every company that uses it.
My point is bring the oil down by pipeline and you will have more business for the railroad delivering the oil to the smaller industries that use oil, making money.
More specifically, or generally, the railroad is going to make a lot of money when the pipeline is built and more oil is delivered to the gulf region.
The railroad is gonna get theirs either way.
the saboteurs will stop the crude by continuing to derail the trains.
There must be thousands of jailed moonbats before the practice will end
PS. the railroads also deliver coal via coal trains at about $100k profit per train delivered after all expenses and salaries have been paid.
Coal has been attacked by this administration, which in most opinions here, is headed by Warren Buffet’s best friend.
I don’t know about the $30 a barrel profit on oil. That would mean a single train with 100 oil filled cars would make the railroad *$1,800,000.
*Tank cars carry at least 30,000 gallons/50 gallons per barrel=600 barrels per car * $30 per barrel = $18,000 per car delivered x 100 cars on the train = $1.8 million.
I think something doesn’t add up with the $30 profit per barrel estimate.
I could be wrong and yes I work for the railroad.
Oil is calculated at 42 gals per barrel so your numbers would increase the profit.
“Stopping Keystone Ensures More Railroad Tank-Car Spills”
Well, that’s the idea.
Not to mention higher fuel prices.
Average tank cars for hauling crude hold roughly 23,000 gallons. The trains that I see coming into the railyard average 40 to 70 tankcars for mixed freight, and 80 to 100 tankcars for a unit train. Also, I’ve seen an uptick in the volume of oil carloads that UP is hauling. I think it’s mainly due to loss of coal traffic.
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