Union Pacific taps shale oil to offset coal
(Source: MarketWatch, October 22, 2012)
SAN FRANCISCO ó Hauling coal to the nationís power plants for the nationís railroads. So when volumes tumble in the face of an oversupplied market, what takes its place? Apparently shale or, more specifically, what can be squeezed out of it.
According to Union Pacific Corp., the booming shale-oil industry is helping it offset a 12% drop in volume and 5% drop in revenue from coal shipments.
Full story: www.marketwatch.com
Monday, October 22, 2012
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