The latest weekly data from the Association of American Railroads continue to highlight the increasing role of Petroleum in rail traffic. For the first twelve weeks of 2013, the number of carloads of petroleum products shipped by U.S. and Canadian railroads was up 47% from its year ago level. As today’s Hot Chart shows, “rail pipelines” now account for more than 5% of total rail traffic in Canada, a tenfold increase from just three years ago. The increase has been so abrupt that petroleum and products have recently supplanted motor vehicles & parts in terms of importance in rail traffic. As shown, it is possible that oil could even overtake grain in the coming quarters.
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