Buffett Bailout? Rail-Based Oil Transit Tumbles To Lowest In Over A Year
by Tyler Durden
ZeroHedge.com
04/07/2015
It appears time for the Oracle of Omaha to start pressing his bought-and-paid-for Washington well-be-dones as his immensely profitable rail freight business – built on the back of massive deflation-inducing malinvestment in US Shale businesses thanks to ZIRP and QE – is running out of steam. As WSJ reports, in March, oil-train traffic was down 7% on a year-over-year basis amid safety concerns and with lower crude prices, “the extra cost of rail makes it a tougher choice,” notes on analyst, adding that the WTI-Brent spread needs to increase “for the economics of crude by rail” to make sense.
The Rest…HERE
