Oil Companies Get Busted by Regulators for Misclassifying Transports

Source: flickr.com

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 (NYSE: HES  ) , Marathon Oil (NYSE: MRO  ) 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 (NYSE: CNI  ) 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.


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