Buffett Railroad Sees Crude Cargo Climbing 40%
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Burlington Northern Santa Fe LLC, the railroad owned by Warren Buffett’s Berkshire Hathaway Inc., will boost crude-oil shipments by 40 percent this year, helping blunt a decline in coal cargo, Chief Executive Officer Matt Rose said.
BNSF will spend “a couple hundred million dollars” on capital improvements to haul more petroleum to refineries from the Bakken shale formation in the northwestern U.S., Rose said in a telephone interview. Crude oil shipments will grow to 700,000 barrels daily by the end of this year, he said.