Buffett Like Icahn Reaping Tank Car Boom From Shale Oil
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Warren Buffett and Carl Icahn are reaping the benefits of surging demand for railroad tank cars to haul shale oil from beyond the reach of existing pipelines.
Buffett’s Union Tank Car Co. is working at full capacity and Icahn’s American Railcar Industries Inc. has a backlog through 2014. Trinity Industries Inc., the biggest railcar producer, began converting wind-tower factories last year to help meet demand for train cars that can transport the petroleum product.