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News summary from Association of American Railroads

October 8, 2013

 

 

AAR SmartBrief

 

news coverage of the railroad industry

 

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Industry Update

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Business ties with railroads deemed important for ports' growth strategy
A sound business strategy for U.S. ports' inland operations mainly includes a close partnership with railroads, said J. Christopher Lytle, executive director for the Port of Oakland in California. For instance, the ports of Charleston, S.C., and Savannah, Ga., could use rail as a tool to put them on par with the California ports of Los Angeles and Long Beach as rail and inland port capabilities are equally important for any port, Lytle said. DC Velocity online (10/7)

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Infrastructure & Economic Spotlight

 

Possible debt-limit compromise begins to emerge
The first indications of a compromise deal on raising the U.S. government's debt limit surfaced after President Barack Obama said he could accept a short-term increase in the government's borrowing authority to avert a default. Sen. Rob Portman, R-Ohio, was working on a separate plan to link legislation raising the debt limit to overhauling the U.S. tax code and further cutting government spending, a Senate aide said. Reuters (10/7), CNN (10/8), The Washington Post (tiered subscription model) (10/7)

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Key U.S. economic data may be delayed
Several U.S. economic indicators are due this week but are likely to be delayed if the budget impasse continues. Among the closely watched items are the minutes of the last meeting of Federal Reserve policymakers and retail sales figures for September, which economists estimate were flat. Business Insider (10/6)

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CP to serve crude-by-rail facility in N.D.
Canadian Pacific is slated to serve Dakota Plains Holdings' $50 million crude loading facility at its Pioneer Terminal in New Town, N.D. The project is on track to be finished by late December. "The Pioneer Terminal expansion will increase the throughput capacity nearly three-fold to 80,000 barrels of crude oil per day at a reduced operating cost," said Dakota Plains Chairman and CEO Craig McKenzie. ProgressiveRailroading.com (10/7)

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Energy & Environmental Watch

Regulator sees Texas becoming major oil producer
Texas is expected to become one of the largest oil producers in the world by decade's end due to surging drilling and production, said Barry Smitherman, chairman of the Texas Railroad Commission. The state's oil fields have exceeded 1.8 million barrels and output could reach 4 million barrels by 2020, he said. Drilling permit applications are also on the rise, Smitherman said. FuelFix.com (10/7)

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