WASHINGTON— The oil and railroad industries are urging U.S. regulators to allow them as long as seven years to retrofit existing tank cars that transport highly volatile crude oil, a top oil industry official said Tuesday. The cars have ruptured and spilled oil during collisions, leading to intense fires.» Read More
OTTAWA, April 23- Canada will require that older rail cars used for carrying crude oil be phased out by May 2017, the government said on Wednesday, moving ahead of the United States to ban the controversial cars in light of burgeoning oil-by-rail traffic and a deadly accident last year.
OTTAWA, April 23- Canada will require that the use of older rail cars for carrying crude oil be phased out within three years, even though the United States has yet to make such a rule change, according to documents seen by Reuters on Wednesday.
Canadian Pacific Railway Ltd and Canadian National Railway Co have come under enormous pressure to clear the backlog, which resulted from a record harvest last year and subsequent disruptions of service caused by a frigid winter.
*Quarterly earnings per share C $1.44 vs C $1.41 estimate. CP shares jumped 6 percent to C $173.83 on the Toronto Stock Exchange in early morning trading.
*Netflix jumps, results show strong subscriber growth. NEW YORK, April 22- U.S. stock index futures were flat on Tuesday as investors found few reasons to continue buying after a five-day rally in the S&P 500, though Netflix jumped following its earnings results.
CSX Corp and Norfolk Southern Corp are both trading 15 percent or more below their warranted share price, according to a measure of "intrinsic valuation" tracked by Thomson Reuters StarMine.
April 16- Railroad operator Kansas City Southern reported better-than-expected quarterly results as a bumper corn crop in 2013 led to higher grain shipments. Midwest to Mexico, Chief Executive David Starling said on a conference call with analysts.
April 16- Railroad operator Kansas City Southern reported a 10 percent rise in first-quarter revenue, helped by higher shipments in its agriculture business. Revenue rose to $607.4 million from $552.8 million, while revenue at the company's agriculture business jumped 40 percent.
CNBC's Dominic Chu provides insight on road and rail stocks, in addition to providing perspective on air freight and logistics.
LONDON, April 15- Electro-Motive Diesel, the world's largest diesel locomotive manufacturer, has taken delivery of the first of four specially designed liquefied natural gas tenders ultimately destined for use on the Canadian National railroad.
"My target date is as soon as possible," Foxx told a panel of the Senate Appropriations Committee when asked when the new standard would be ready. The Department of Transportation is responsible for mandating a new tank car design, but officials are counting on input from industry.
Gasoline prices have increased in part because of an ethanol price hike, but the national average will stay low this summer.
Discussing whether the U.S. really needs the Keystone XL oil pipeline, with Dennis Gartman of The Gartman Letter.
Carl Ice, CEO of BNSF Railway, shares his thoughts on the renaissance in the railroad industry as commodity shipping picks up steam after this winter's harsh weather. We handled half the growth that the industry had, says Ice.
Discussing whether the increase in oil shipments by railway in the U.S. is causing congestion on the rail for other commodities, with Tony Hatch, ABH Consulting. Also, a look at the investment environment for rail stocks.
Warren Buffett, Berkshire Hathaway Chairman & CEO, weighs in on the WSJ report saying there is a surge in oil being shipped by rail which is "sidetracking" other industries. Dan Gilbert, Quicken Loans founder & Chairman, weighs in.
CNBC's Eamon Javers reports U.S. rail has agreed to slow trains carrying oil through cities, following a string of explosions.
Large blocks of rail stocks were bought today, according to the Fast Money traders. What's the play on the rails?
Donald Broughton, Avondale Partners analyst, explains how severe winter weather is impacting the transports. There may be an opportunity to buy some of these stocks at a discount, says Broughton.
A train carrying propane and oil derailed in Vandergrift, Pennsylvania, reports WXPI-TV reporter Dave Bondy. The oil is leaking, but it is not endangering any residences in the area.