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Oil By Rail Is In Desperate Need of Clean-Up

Railways are transforming North America's energy sector and are, coincidentally, helping to save Canada's bacon. But the train business has been allowed to remain a 19th-century technology run with 19th-century mentality by workers without credentials. Aviation, by contrast, is heavily supervised and operated by licensed personnel with professional expertise and constant surveillance. For the moment, the critically important oil industry has been saved, but if governments aren't as tough as nails in their demands and dealings with the railways, then all bets are off.

Why Rail Accidents Are Even More Dangerous Than You Think

Rail claims that it faces a number of disadvantages as the primary means of transport for the goods. For starters, its insurance coverage is limited. Rail companies can't get insurance to cover the cost of potential accidents. So, rail companies -- and their shareholders -- remain open to a "bet the company" risk in the transportation of these goods.