Campaign Against Keystone XL Spurring A Boom In Fossil Fuel Railroad Shipments
By Matthew Yglesias
The biggest economic winner from the movement against the proposed Keystone XL pipeline turns out to be freight railroad companies. As Lisa Hymas explains, since freight rail tracks are already in existence you don’t need to go through any pipeline-style new permitting and public review process to simply rejigger the trains to ship more oil.
There’s been year-on-year growth in freight rail shipments of oil of about 360,000 barrels per day which is “the equivalent of adding a ‘major’ pipeline” and has sent some railroad stocks surging.
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