Oil Companies Get Busted by Regulators for Misclassifying Transports
Based on the fact that rail operators are held 100% liable for any incidents after taking possession of the goods they are transporting, it makes sense that oil companies delivering the goods should at least be held accountable prior to that. It appears that Hess Corporation , Marathon Oil and Whiting Oil & Gas could be the early poster children for this. All three companies have been accused of mis-categorizing oil bound for rail loading stations. Addressing issues like this at the well head could go a long way toward preventing disasters like we have seen lately. Check out our short clip below to find out why rail companies like Canadian National Railway should be happy about this.
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This segment is from Thursday's edition of "Digging for Value," in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.
The article Oil Companies Get Busted by Regulators for Misclassifying Transports originally appeared on Fool.com.Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Berkshire Hathaway and Canadian National Railway. The Motley Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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