Tony Hatch News
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A rejection of the Keystone XL pipeline by President Barack Obama would push more of Canada’s $73 billion oil exports onto trains, which register almost three times more spills than pipelines.
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General Electric Co. and Caterpillar Inc., the world’s largest locomotive makers, are rushing to develop natural gas-powered models in a potential shift from diesel’s six decades as the fuel of choice for railroads.
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North American railroads’ seasonal peak in shipments may be extending into December as an increase in online Christmas shopping boosts demand for moving packages.
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Unions for more than half of the workers bargaining with the largest U.S. freight railroads have reached agreements, reducing the threat of a walkout that might cost the economy $2 billion a day.
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Warren Buffett’s Berkshire Hathaway Inc. plans to increase capital spending at its railroad to about $4.1 billion this year, as the company prepares to handle rising oil shipments and expands intermodal terminal capacity.
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Bill Ackman, the largest investor in Canadian Pacific Railway Ltd., is following Warren Buffett in profiting from growing oil and gas production in North America’s Bakken shale.
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When Warren Buffett bought North America’s second-biggest railroad, he called it an “all-in wager” on the U.S. economy. It’s turning out to be a pretty good bet on the oil industry, too.
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North American railroads’ freight volumes surged 17 percent last week, the most in a year, in an indication that the U.S. economy will avoid a second recession.
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Railroads including Warren Buffett’s Burlington Northern Santa Fe would get five more years to install crash-avoidance technology -- a project estimated to cost about $12 billion -- under a proposal by the U.S. House transportation committee.
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Berkshire Hathaway Inc.’s 2010 acquisition of Burlington Northern Santa Fe, the second-largest U.S. railroad by revenue, will be the subject of a hearing on railroad shippers’ concerns that they will be asked to cover the deal’s costs.
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