Factbox: Freight Cars Ride to the Rescue of Oil Companies - Yahoo! News
The latest Daily Fuel Gauge Report shows an average price of mid-octane fuel of $3.97 per gallon. Things aren't looking good for the 16-wheelers, either, with diesel at $4.08 per gallon. The problem, we are told, is not an insufficient supply of crude, but bottlenecks at the refineries. Projects like the Keystone XL Pipeline would have helped, but oil companies are turning to old-fashioned methods in bringing crude to the refineries on the east, west, and southern coasts.
Norway's Statoil ASA is the latest company to lease rail cars for crude oil transport, according to a company press release. The race to get oil to the refineries gets added impetus by Hurricane Isaac, which caused shutdowns and pullbacks at Gulf Coast refineries. Here are a number of important facts about U.S. refinery operation in the current environment: