Thursday, December 27, 2012

WSJ on Oil Infrastructure Investments

A new article out today from the Wall Street Journal reports on the investment expected next year in oil and gas transport infrastructure projects. Among the highlights...

• A leading industrial project design, management and engineering firm predicts that up to $45 billion may be spent on new or expanded oil transport infrastructure in 2013, an estimate that includes pipelines, rail cars, rail terminals and other projects.

• Valero EnergyCorp.,the world's largest independent refiner, began shipping 40,000 barrels a day from North Dakota via a combination of rail and pipeline to its Memphis, Tenn., refinery this year and is considering rail shipments of Bakken oil to California.

• According to the Association of American Railroads, in 2008 there were approximately 9,500 tanker carloads of oil shipped in the U.S.  By 2011 the number had surged to 66,000 carloads and is expected to exceed 200,000 carloads this year. 

Source: WSJ

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