N. American rail reaps benefits of energy boom
Feb 13, 2013 | 11:33 AM
| Corinna Petry
Tags
crude oil,
railroads,
shale fields,
oil sands,
pipelines,
volume,
investments,
tank cars
Valero Energy
CHICAGO — The oil and rail sectors are experiencing a modern renaissance, with the two becoming more closely linked than ever as the U.S. energy sector booms.
The energy industry’s explosive growth is a "kind of a rail gold rush," Morgan Stanley analyst Evan Calio said during refiner Phillips 66’s recent earnings call. Houston-based Phillips 66 is among a host of firms, including energy producers and railroads, that are ordering rail cars to ship petroleum products all over the country as well as to export markets from shale plays and oil sands.
Phillips 66 started taking delivery of its first group of 2,000 railcars this month, chairman and chief executive officer Greg Garland said.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here