The Obama administration late last week put out a final safety rule on moving flammable liquids by rail, a subject of concern with the growth in crude by rail. Critiques were plentiful on the high-stakes issue. From the green side, Sen. Maria Cantwell (D-Washington) blasted the new regs, done in concert with Canada, as “more of a status… Keep reading →
Gasoline prices have been falling steadily for months. Now a gallon may be purchased for substantially less than three dollars in many regions of the country. That’s welcome news for consumers, but environmentalists, regulators and first responders have been asking whether there are risks associated with this happy development that may not be obvious and which should be addressed.
Union Pacific Railroad just announced handsome Q3 profits driven in large part by the US energy boom. Although crude oil shipments were down from the corresponding period last year, shipments of sand for hydraulic fracturing operations have been strong. Less expensive diesel fuel also helped the rail company’s bottom line. “Today you’re seeing lots of… Keep reading →
While oil prices have stabilized for the moment and associated doomsday scenarios have slowed, here’s a detailed analysis of the interplay between various commodity prices and some of the investment decisions petrochemical companies, producers and LNG businesses face. “Indeed, even international buyers of natural gas were aggressively pursuing hub based gas pricing contracts with view… Keep reading →
Democratic Senator Dianne Feinstein penned a letter to Transportation Secretary Anthony Foxx this week urging the need for stricter oil tank car regulations, an issue some business have been pushing back against. Production from unconventional resource plays has overwhelmed existing oil transportation infrastructure – particularly pipelines – forcing producers to use railroads to get their… Keep reading →
According to recent rail industry reports, US freight railroads are estimated to have carried 434,000 carloads of crude oil in the past year. Though oil-by-rail has proven its benefits relating to the efficient transport of oil from upstream to downstream, it has raised significant concerns regarding transportation safety and its environmental impacts. Due to recent… Keep reading →
This piece does a good job laying out the pros and cons of the most common crude oil transportation methods – rail, pipeline, truck and boat. “So it depends upon what your definition is for worse. Is it death and destruction? Is it amount of oil released? Is it land area or water volume contaminated? Is… Keep reading →
Some banks are sticking it out in commodities as several others exit the business amid onerous regulations and decreasing profitability. The banks that stick around – including Goldman Sachs – face less competition. [Bloomberg] Putin feels emboldened by the fact that major western oil companies remain committed to Russia despite the current souring of relations… Keep reading →
The project is a way from shovels in the ground, but UK-based independent Tullow Oil is working towards bringing the considerable oil resources it’s discovered in Kenya and Uganda to market, which will require an extremely long, heated pipeline to transport the waxy crude. [The Observer] As businesses continue to seize opportunities presented by currently… Keep reading →
Up to 150,000 b/d of Bakken crude oil currently passes through Albany via rail and/or barge on its way to East Coast refineries and other destinations. Read Breaking Energy coverage of rail transport capacity expansion at the Phillips 66 Bayway Refinery in New Jersey here. Some are concerned about the crude oil transport increases Albany… Keep reading →
