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Railcars should be replaced, modified for crude by rail -Greenbriar CEO
January 8, 2014 / 4:45 PM / 4 years ago

Railcars should be replaced, modified for crude by rail -Greenbriar CEO

HOUSTON, Jan 8 (Reuters) - Railcar manufacturer The Greenbriar Companies says older tank cars that don’t mean the latest industry safety standards will have to be replaced or modified in light of recent crashes involving crude oil shipments, Chief Executive William Furman told analysts on Wednesday.

He said “modest but meaningful” tank car improvements that can be implemented immediately could reduce major risks of a hazardous materials leak by as much as 80 percent in derailments.

“We believe a retrofit proposal if adopted can be completed in a reasonably expedited time frame and do not accept that there is not adequate capacity in the industry to do so,” Furman said.

He also said public safety concerns center on delays to address such issues, including “inability to act on the regulatory front while the public would like to see something done sooner.”

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