"Speed of Oil Tank Cars ‘An Issue': DOT Secretary"

"The speed of rail tank cars used in crude-by-rail shipments 'is an issue' that the Transportation Department may address in an upcoming safety rule, Secretary Anthony Foxx said.

“It has to be dealt with comprehensively,” Foxx said July 21 of the rule, which is still being crafted, during remarks at the National Press Club. New standards for tank cars are “one piece of it, but speed is an issue.”

The Transportation Department has begun a series of rulemakings in response to mounting concern over the shipment of crude oil by rail, after a series of high-profile derailments that have accompanied increased domestic energy development and growing use of rail to transport this product."

Ari Natter reports for Bloomberg BNA News July 22, 2014.

Source: Bloomberg BNA, 07/23/2014