Accidents won't stop crude-by-rail shipments, expert says

01/20/2014 |

Recent accidents involving oil-carrying trains will not likely slow down the use of rail to transport fuel, according to experts. Railways play a vital role in bringing the commodity to the market, and upgrading rail cars and other railway facilities could cost more than $1 billion and would require a long period of time, experts said. "If we're talking about shutting down all or most of the crude production in North Dakota because of the issues we've had with a few cars, there's huge economic ramifications for that," said Foster Mellen, EY Oil & Gas' senior strategic analyst.

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