Another, under reported aspect is that the oil trains have caused a near doubling of turn around days for rail cars.
Before this development, I could move cars from Superior, Wisconsin to Houston, drain the cars and return them for another lifting in 30 days.
Today, that time element is close to 60 days. If my freight rate (not including the car cost) was $10/bbl, it’s now $20.
I can’t imagine what the grain haulers are doing about this...
We can’t ship a lot of the corn and soybean harvest here in Indiana. All the tank car traffic is delaying everything. There’s stuff still in the fields because the system is backed up.