Marine Pollution Control8631 West Jefferson Avenue
Detroit, MI 48209 USA
313.849.2333 - 24/hour
11320 E Lakewood Blvd., #11
Holland, MI 49424
800-521-8232 – 24/Hour
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Railroad Stocks Fall As Canada Derailment Spills Oil
Railroad stocks plunged Tuesday after a Canadian National Railway (NYSE:CNI) train carrying oil derailed in Saskatchewan, and two cars carrying petroleum distillate caught on fire.
Oil shipments by rail are on the rise amid the shale oil boom and delays over the Keystone pipeline decision. Meantime, coal shipments are declining, and railroads are eager to take on the extra freight to offset the loss.
But increased crude-by-rail shipments have come with growing safety concerns after several high-profile crashes.