Canadian Pacific approached CSX about merger deal

[unhappycamper]

http://www.marketwatch.com/story/canadian-pacific-approached-csx-about-merger-deal-2014-10-13?reflink=zacks

Canadian Pacific approached CSX about merger deal
By Dana Mattioli & Liz Hoffman & David George-Cosh
Published: Oct 13, 2014 1:36 a.m. ET

Canadian Pacific Railway Ltd. approached CSX Corp. about a combination that would unite two of North America’s largest railroad operators, said people briefed on the matter, as the boom in North American energy reshapes the railroad industry.

~snip~

But talk of a combination of such giants shows just how far the railroad business has come roaring back, as rails become ever-more-critical to moving North America’s new abundance of oil.

North American railroads have been a major beneficiary of the energy boom, hauling millions of barrels of crude oil. Rail has stepped in where oil fields are developed but pipelines can’t be built, including places like North Dakota, Pennsylvania, New Jersey and Canada’s Atlantic Coast.

The half-dozen major railroads operating in the U.S. generated $2.15 billion hauling crude in 2013, up from $25.8 million in 2008, according to federal data.

..

What could possibly go wrong?

[Fuddnik]

1. Hill they pull trains with dog teams?