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Daily Headlines

Railroads push against oil industry demands for storage in rail cars

(Source: Reuters, April 9, 2020) NEW YORK — Railroads are clamping down on rising demand from oil companies to store crude in rail cars due to safety concerns, sources said, even as the number of places available to stockpile oil is rapidly dwindling. Full story:...

Amtrak CARES Act appropriation: $1.02 billion

(Source: Railway Age, April 10, 2020) NEW YORK — The Federal Railroad Administration (FRA) is making more than $1 billion under the recently enacted Coronavirus Aid, Relief, and Economic Security (CARES) Act available to Amtrak “to support the railroad’s activities to...

Rail analysts expect a tough six months

(Source: Freight Waves, April 10, 2020) CHATTANOOG, Tenn. — The second and third quarters could see “substantial” declines in revenue for the Class I railroads as North America rides out the coronavirus pandemic, according to Wall Street analysts’ perspectives,...

AAR: The impact of coronavirus on railroads is growing

(Source: Railway Age, April 8, 2020) NEW YORK — The Association of American Railroads (AAR) reported U.S. rail traffic for the week ended April 4, 2020, and it acknowledged that COVID-19 is increasingly impacting the rail industry. For the week ended April 4, total...

Some of America’s oil refineries may be on the brink of shutting

(Source: Bloomberg, April 9, 2020) NEW YORK — The next step for some U.S. refineries that have already cut way back may be a full stop. Marathon Petroleum Corp. plans to idle its Gallup, New Mexico, refinery next week, according to a person familiar with the matter....

Peabody Energy reduces workforce at three Powder River Basin mines

(Source: Casper Star Tribune, April 7, 2020) CASPER, Wyo. — More layoffs are occurring in Wyoming’s coal country, with the state’s largest mining company reducing its workforce for the second month in a row at its Powder River Basin mines. Full story: Casper Star...

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