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Energy Buffett says rail tank cars need upgrades, cites Eagle Ford oil transport

Buffett says rail tank cars need upgrades, cites Eagle Ford oil transport

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Robert Francis
Robert Francis
Robert is a Fort Worth native and longtime editor of the Fort Worth Business Press. He is a former president of the local Society of Professional Journalists and was a freelancer for a variety of newspapers, weeklies and magazines, including American Way, BrandWeek and InformatonWeek. A graduate of TCU, Robert has held a variety of writing and editing positions at publications such as the Grand Prairie Daily News and InfoWorld. He is also a musician and playwright.

OMAHA, Neb. (AP) — Investor Warren Buffett says it’s clear that railroad tank cars carrying crude oil need to be updated because oil from certain regions has the potential to be more dangerous than previously thought.

Buffett appeared on CNBC Monday after releasing his letter to Berkshire Hathaway shareholders Saturday. Buffett owns BNSF railroad and a manufacturer of tank cars.

Buffett says the crude oil from the Bakken oil field in North Dakota and Montana and the Eagle Ford oil field in south Texas has proven more volatile than anticipated.

That volatility may have contributed to several fiery derailments in the past year, including one in Lac-Megantic, Quebec, last summer that killed 47 people.

 

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