Sunday, December 10, 2023
Homeoil gasDanger on the rails: New rules could hit stocks

Danger on the rails: New rules could hit stocks

Recent accidents involving crude oil being shipped from the Bakken area of North Dakota and Montana are raising eyebrows on Wall Street and have analysts looking at companies that could be exposed to new rules governing oil shipments from the region.

Three major accidents have taken place in a short period of time: Two trains collided in Casselton, N.D., last week; a train in November; and 47 people were killed when an oil-laden, runaway train exploded in Quebec in July.

The incidents prompted the NTSB to look into the issue and spurred a safety alert from the Pipeline and Hazardous Materials Safety Administration that said crude transported from the Bakken may be more flammable than traditional heavy crude.


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