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Rail oil boom creating jobs, driving returns as Keystone approval wait drags on
(Source: Bloomberg News, March 13, 2013)
NEW YORK — For all the debate over building the Keystone XL pipeline, the oil is moving without it.
Railroads such as Warren Buffett’s Burlington Northern Santa Fe LLC are the rolling alternative, keeping oil flowing from the Bakken in North Dakota to refineries along the Texas Gulf Coast, as the White House deliberates on the fate of TransCanada Corp.’s petroleum artery.
They’re boosting employment in the process: Rail transportation payrolls have climbed by 9.1%, a pace more than twice as fast as total job growth, since the end of 2009.
Full story: Financial Post
Thursday, March 14, 2013
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