North American Railroads Caught by Speed of Crude-Oil Collapse
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(Bloomberg) -- The slowdown that North American railroadcompanies had been bracing for in crude oil shipments has turnedinto a rout, with volumes falling faster than executives hadpredicted.
With energy companies scaling back drilling after pricesfor the commodity fell about 50 percent since July, industryexecutives and analysts anticipated that demand for haulingcrude and extraction materials such as frac sand and pipes wouldslow after a four-year surge. They didn’t expect it to slow thismuch this fast.