In light of several crude-by-rail accidents this year, the American Petroleum Institute is renewing its dedication to rail safety by working hand-in-hand with the U.S. Department of Transportation (DOT) and America’s railroad industry to examine all current designs, regulations and procedures in an effort to improve safety in a collaborative and holistic way.
You would be hard put to find two industries enjoying the recent United States shale oil and gas boom more than logistics and transportation companies. Specifically, the shale boom is creating considerable opportunities for the railroad, trucking, marine shipping and airline industries as transport is needed to move gas, oil and waste by-products. This new source of abundant, low-cost energy has provided a much-needed jolt to a lethargic economy, but will it be a stable source of business for years to come? Or is it just a trend? Only time will tell.
Recently, the International Energy Agency (IEA) predicted that that by 2015 the United States will officially overtake Russia as the world’s top oil producer – an estimate that, until recently, was believed to be about two years premature. However, will the recent boom and frenzy over oil and natural gas produced from shale formations continue to revive a timid and hesitant economy? Or will it simply burn itself out? Experts from all around the oil industry believe that only time will tell where the market and its supporting structures will lead this fledgling resource. continue reading
In this booming market of unconventional resources such as shale oil, it can be hard to know which is more valuable; the shale oil itself or the land on which it sits. Companies and contractors alike are all lining up to be some of the first market-backed entities to take a crack at shale resources to successfully commercialize the unconventional energy source. Controversy aside, many industry experts have seen good things in the niche’ oil and are convinced it could be the light at the end of the dark tunnel that is the U.S. energy market. With so much money being spent on acquiring land and spacing for drilling and mining operations, what will be left to fund the crucial developmental stage of shale oil? continue reading
It was a true tragedy on July 6 when a an unattended 74-car freight train went out of control and derailed in the town of Lac-Megantic in the Canadian province of Quebec, causing a fire that killed 47, while more than 30 buildings, or half of the town’s downtown center, were also destroyed. The derailment was the fourth-deadliest in Canadian history and featured the largest loss of life since the St. Hilare train disaster in 1864. continue reading