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On Shipping Oil by Rail: A Modern-Day Problem of Social Cost

Hi Bob

Thanks for reading. My understanding is that -at present- the Surface Transportation Board does not review the adequacy of insurance carried by railroads.  Railroads in the US and Canada have advocated for a cap on max. liabilities in case of a large accident (similar to what is in place in the nuclear sector under the Price-Anderson Act). As you note, shippers and rail car lessors are less enthusiastic about the idea. It seems they are quite happy with having the liability rest with the railroads. 

 

 

 

 

April 16, 2014    View Comment