The recent Pegasus Pipeline spill in Arkansas has put the energy sector on the edge a little, and so ExxonMobil (NYSE:XOM) is trying hard to make this story go away by offering compensation to residents of the area where the spill took place. With the fate of TransCanada's (NYSE:TRP) pipeline still hanging in the balance, the energy industry wants this story to go away, fast.

Obviously, stories like this bring up the safety and reliability of America's pipeline system. But there are also consequences to pipeline alternatives such as rail. From last month's oil sands rail spill in Minnesota to the Burlington Northern Santa Fe explosion in 2008, rail poses some risks as well. In this video, contributor Tyler Crowe talks to Aimee Duffy about some of the problems with America's current pipeline system and the risks for alternative transportation of oil.

Fool contributors Aimee Duffy and Tyler Crowe have no position in any stocks mentioned. You can follow them both on Twitter, @TMFDuffy and @TylerCroweFool, respectively.

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