Tag: Warren Buffett

The Man Behind the Exploding Trains

ERIC DE PLACE and RICH FELDMAN – In our previous installment, we explored how unsafe DOT-111s, the Ford Pinto of rail cars, make up the vast majority of oil-filled tank cars now riding the rails in North America. With DOT-111s, there is no margin for error. A serious derailment will almost always lead to oil spills or explosions. But if they are so clearly dangerous, why are these tank cars still on the rails? The reason, in short, is because the railroad and rail car industries have opposed new safety regulations. (The oil and ethanol industries have abetted their cause.)