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Monday, March 21, 2005
First Wave of a Railroad Resurgence
As oil prices continue to climb with no relief in sight for at least the next two years, people will be turning more to railroads for transportation needs. Today, I learned that rail freight cars are filling up across the nation and their shares of railroads are starting a significant uptick. Rail freight has been a profitable private enterprise even during the cheap oil trucking and suburban expansion bonanza in postwar America, and it is becoming more profitable now. Here is a key point raised in an article on the subject: Since fuel accounts for a relatively small portion of operating costs, railroads haven't been hit as hard by higher oil prices as the trucking companies. The article suggests that investors consider buying stock in Burlington Northern Santa Fe, Norfolk Southern and CSX.
A renaissance in rail travel is likely to affect passenger service next. But already, Amtrak ridership has had two record-breaking years in 2003 and 2004. The trend would likely continue were it not for President Bush and Congressional Republicans trying to dismantle the railroad. People are voting for Amtrak with their wallets, but Washington is oblivious. In a time of rising costs of driving and airlines going broke, how much sense does it make to decrease availability of an alternative?
- Railroad stocks chug ahead [MoneyCentral @ MSN]
- IMF Chief: Oil Prices High for 2 Years [Yahoo! News]
- Amtrak Sets Ridership Record for Second Straight Year [U.S. Conference of Mayors]- Posted at 12:57 PM |
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