February 24, 2015

CSX in the headlines again

I'd like to think that this could be my last blog posting about CSX Transportation, but alas, it will likely be simply my latest. This company name was not in most folks' vocabulary until recently, when another of its MANY train cars full of Bakken field crude oil derailed in West Virginia. 

But this time CSX is in the news for the paltry $361,000 fine imposed on it by the state of Virginia for the huge oil spill in Lynchburg, Virginia, last April. It seems that 390 gallons of the 29,000 gallon spill are still in the environment. Presumably at the bottom of the James River.

During the ensuing fire, 90 percent of that spill burned and 245 gallons of crude oil were recovered at the riverbank site.

As part of the CSX agreement with the state, the company has reseeded the spill area and planted 200 trees. And they will make monthly inspections for oil that appears at the site.

But $12 per gallon of crude oil spilled -- or $900 per gallon still unaccounted for -- seems like a small fine to me in corporate dollars.

And I haven't researched yet what fines, if any, oil pipeline companies receive for their frequent leaks. Posting this on the expected day of President Obama's veto of Congress plan for Keystone pipeline is simply a coincidence!