Be careful what you wish for…
Buffett’s Burlington Northern Among Winners From Keystone Denial – Bloomberg.
Warren Buffett’s Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration’s decision to reject TransCanada Corp. (TRP)’s Keystone XL oil pipeline permit.
With modest expansion, railroads can handle all new oil produced in western Canada through 2030, according to an analysis of the Keystone proposal by the U.S. State Department.
Twenty-two railcars ended up in a field on Sunday night, after a 20-year-old man from Manor slammed his red pickup truck into a moving train near Oxbow.
Light crude oil leaked from six of the cars, with Canadian Pacific (CP) officials and environmental crews on scene throughout Monday to assess the damage and start the cleanup.
The accident happened at an uncontrolled rural train crossing near Highway 18, about 265 kilometres southeast of Regina, at 11 p.m.
