U.S. Rail, Crude Oil Partnership Growing, Says BNSF Exec | 2014-05-28 | Natural Gas Intelligence

The U.S. railroad industry a few short years ago wasn’t involved in the unconventional oil and gas revolution, but major rail operators that include BNSF are now gearing up to move a lot more crude oil, a senior executive said last week at the Williston Basin Petroleum Conference in Bismarck, ND.Executive Chairman Matt Rose, who has been touted by some as a possible successor to Berkshire Hathaway CEO Warren Buffett, whose company owns BNSF, said the U.S. rail industry is experiencing tremendous growth, some driven by the increase in rail shipments of crude oil.”Crude oil has played a role as exemplified by North Dakota, which in 2013 accounted for 20% of all of the U.S. rail system growth,” Rose said. “So there is a reason that $400 million of our 2014 capital spending plan is targeted for one state — right here in North Dakota.” Half of the U.S. rail industry’s 800,000 units of growth last year was handled by BNSF. “This year’s growth so far shows no signs of slowing down,” he said, noting that BNSF volumes handled the last two weeks of April were the largest any U.S. railroad has ever handled.

via U.S. Rail, Crude Oil Partnership Growing, Says BNSF Exec | 2014-05-28 | Natural Gas Intelligence.

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