October 22, 2014

Warren Buffett pushes for stronger rail cars for oil

oil-train-railWarren Buffett, the Omaha billionaire who four years ago bought the nation’s second-biggest railroad, said Monday that rail tank cars need to be upgraded to safely transport the surging production of oil from North Dakota and Texas.

“It’s fair to say that we’ve found in [the] last year or so that it’s more dangerous to move certain types of crude than was thought previously,” Buffett said in an interview on CNBC. “There’s no question about it.”

Read the complete story at the Star Tribune.