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Daily Headlines
U.S. rail crude loadings tumble as prices decline
(Source: Argus Media, April 1, 2020) HOUSTON — U.S. railroad shipments of petroleum have dropped as crude and refined products prices fall to the lowest level in more than a decade. Full story: Argus Media
Bakken producer Whiting files for bankruptcy
(Source: Bismarck Tribune, April 1, 2020) BISMARCK, N.D. — Whiting Petroleum Corp., a major Bakken oil producer, is filing for Chapter 11 bankruptcy. The Denver-based company cited the “severe downturn in oil and gas prices driven by uncertainty around the duration of...
Canadian oil company Cenovus further cuts 2020 spending, suspends dividend citing oil prices
(Source: Reuters, April 2, 2020) CALGARY — Canadian integrated oil and natural gas company Cenovus Energy said on Thursday it would reduce its full-year capital spending by another C$150 million ($106 million) and suspend its dividend, citing low global oil prices....
Analyst says “railroads are generally well-positioned; 2021 carloads will be strong”
(Source: Railway Age, March 31, 2020) NEW YORK — Citing “increased macroeconomic uncertainty and corporate debt in focus across various sectors,” Cowen and Company recently delved into current debt levels at major railroad and trucking firms, and discussed actions...
Amtrak among companies cutting retirement contributions in the COVID-19 cash crunch
(Source: www.marketplace.org, April 1, 2020) WASHINGTON, D.C. — Some standard advice in this topsy turvy market: Don’t check your 401(k). Suffice it to say the crisis, and the stock market volatility it’s caused, have damaged the retirement accounts of many Americans...
Canadian rail blockades could have a lasting effect on U.S.-Canada trade, setting the stage for even greater fallout from coronavirus
(Source: Fortune, April 1, 2020) NEW YORK — It was only a matter of days after protest blockades died down, rail lines rehired employees they had laid off, and Canada’s federal government reached a tentative agreement with the Wet’suwet’en First Nation that the...
“They’re not taking our safety seriously:” SEPTA employees call for greater protections
(Source: Philadelphia Inquirer, April 1, 2020) PHILADELPHIA — Allison Cooper, a SEPTA operator repositioned to sanitizing buses at Fern Rock Transportation Center, worries she may give COVID-19 to her 90-year-old mom at their Germantown home. As Cooper, 54, a TWU...
Metra conductor tests positive for coronavirus
(Source: NBC Chicago, April 2, 2020) CHICAGO — A conductor who works on the Metra SouthWest Service Line has tested positive for COVID-19, the commuter rail service announced Wednesday. The employee has been home since becoming sick March 25, Metra said in a...
NJ Transit workers fear for health as positive cases rise
(Source: NorthJersey.com, April 2, 2020) BERGEN COUNTY, N.J. — An NJ Transit bus operator said he was handed a pair of gloves and a square towelette before heading out on an eight-hour shift in North Jersey last week. The next day, he was feverish, had chills and was...
Hoffa: Lawmakers must prioritize safety of all essential workers
(Source: Column by International Brotherhood of Teamsters General President James P. Hoffa published in the Detroit News, April 1, 2020) WASHINGTON, D.C. — Our country is currently facing unprecedented uncertainty due to the ongoing coronavirus pandemic. It is not...
