By Lambert Strether of Corrente.
Trains are big:
(By Doug Wertman from Rogers, AR, USA – Cajon Intermodal, CC BY 2.0, https://commons.wikimedia.org/w/index.php?curid=11342686)
Not only that, the railroad industry is both big and extremely complex; railroads were the first big business. So there’s a lot of history here, including the Great Railroad Strike of 1877 and the Pullman Strike of 1894, some of it tortured.
Now as then, railroads were essential to the supply chain. Recently, however, railroads — and especially railroad workers — aren’t doing so well. From the always fun and interesting Freight Waves:
America’s railways are in an unusually chaotic state as Class I lines struggle to find employees. That’s led to congestion that analysts say is even worse than 2021, which saw some of the biggest rail traffic in history.
Outside being stuck behind a miles-long behemoth, one does not think often about the importance of the humble train. It isn’t as ubiquitous as the truck, as swift as the cargo plane or as cosmopolitan as the container ship. It may seem even a bit antiquated. Indeed, the cargoes on railcars aren’t usually goods exposed to the consumer — think gravel, grain, coal and chemicals. These are crucial components for our larger economy. Gravel becomes the foundations of our homes and roadways, grain our food (and our food’s food), coal our electricity and chemicals the basis of many everyday products.
So, while you may not have been keeping up to date with rail congestion, industrial bigwigs and lawmakers alike are furious. The coal industry is slamming rail for the “meltdown” in service capacity and grain shippers said they had to spend $100 million more in shipping costs to get their product moved amid poor rail service. The Port of Los Angeles is taking to the press to demand rail move those gosh darn containers away, saying that railroaders could cause a “nationwide logjam” with the unmoved containers sitting around.
As readers probably know, railroad union members voted 99.5% to authorize nationwide strike. That doesn’t mean that there will actually be a strike, as we shall see. However, railroad labor relations will assume increasing salience over the summer and into the midterms (especially for Joe Biden, who vowed to become America’s “most pro-union” President), so it will be useful to have some familiarity with all the moving parts. In this post, I will glance at labor law, railroad unions, the railroad business model — “Precision Scheduled Railroading” — and the railroad workplace.
I approach this topic with some diffidence, because of its complexity, so I hope that readers will correct or expand on what i wrote. (Alert reader Upstater, an actual railroader — the NC commentariat is the best commentariat — has already commented on Precision Scheduled Railroading here, here, here, here, and here.)
Railroad Labor Law Is Complex
By beginning with the strike vote, we began in medias res. Railroad workers are governed by “a slew of complex labor laws” and a strike threat doesn’t necessarily mean a strike. Freight Waves:
Rail unions have been negotiating with their employers since January 2020, with a “dead end” in negotiations reported two years later. Now, President Joe Biden is being charged with appointing a “Presidential Emergency Board” to nail down a new contract. If he doesn’t do so by Monday, railroad crews could legally have their first nationwide strike since 1992.
(You would think the threat of a “disastrous” strike would give workers a lot of power. Read on.) Here are the next steps in the convoluted process, from Railway Age:
President Biden on July 15 established a Presidential Emergency Board (PEB) [by Executive Order] to investigate a wage, benefits and work rules dispute between most major railroads (and many smaller ones) and their 12 labor unions representing some 145,000 unionized rail workers….. “The Board shall report to the President with respect to the disputes within 30 days of its creation, [during which] no change in the conditions out of which the disputes arose shall be made by the parties to the controversy, except by agreement of the parties.”
By the end of this 30-day investigative period, the PEB will issue non-binding recommendations for settlement. The sides will then have 30 additional days—extending to Sept. 18—to reach a voluntary settlement based on those recommendations.
If no agreement is reached, the Railway Labor Act has run its course and unions may strike or management may lock out. .
Biden appoints all the members of the PEB, so his choices will be closely watched. (Here is Biden’s Executive Order.) But holy moley. Congress writes a back-to-work order? Between September 18 and the midterms on November 8? (To be fair, a crippled supply chain will concentrate their minds. Nevertheless.)
To reduce the complex to the simple: Railroad labor law is designed to disempower workers by nullifying their ability to strike.
NOTE: Railroad union leadership seems to view moving the stately process of negotiation onwards to the PEB as a victory; they pleaded for it. I’m not going to cover union leadership in this post because if I did I’d probably stroke out. But WSWS has a lot of good stuff.
Railroad Unions Are Complex
There sure are a lot of them. From the International Association of Sheet Metal, Air, Rail and Transportation Workers:
The unions comprising the Coordinated Bargaining Coalition are: the American Train Dispatchers Association (ATDA); the Brotherhood of Locomotive Engineers and Trainmen / Teamsters Rail Conference (BLET); the Brotherhood of Railroad Signalmen (BRS); the International Association of Machinists (IAM); the International Brotherhood of Boilermakers (IBB); the National Conference of Firemen & Oilers/SEIU (NCFO); the International Brotherhood of Electrical Workers (IBEW); the Transport Workers Union of America (TWU); the Transportation Communications Union / IAM (TCU), including TCU’s Brotherhood Railway Carmen Division (BRC); and the Transportation Division of the International Association of Sheet Metal, Air, Rail, and Transportation Workers (SMART–TD).
The Brotherhood of Maintenance of Way Employes Division and SMART Mechanical Unions are also bargaining as a coalition.
Collectively, these Unions represent approximately 115,000 railroad workers covered by the various organizations’ national agreements, and comprise 100% of the workforce who will be impacted by this round of negotiations.
This long list — I count fourteen — reminds me of nothing so much as the myriad of German petty states, ecclesiastical principalities, and free cities of the Holy Roman empire. I’m sure there’s a lot of hallowed history here, but aren’t there a lot of cats to herd? Clearly, these institutional structures have failed to protect workers:
The Surface Transportation Board, the federal agency that regulates the railroad industry, said that the largest railroads laid off so many workers in the past six years that the industry’s overall workforce dropped 29 per cent.
Reducing once again the complex to the simple: Why isn’t there one union of all railroad workers? (Leaving aside the more generic question: Why is there not one big union?)
The Railroad Business Model Is Complex
Six of the seven Class 1 railroads practice Precision Scheduled Railroading (PSR), with Warren Buffet’s privately held BNSF the one holdout. PSR was devised by the late Hunter Harrison, who helmed the Illinois Central Railroad, Canadian National Railway, Canadian Pacific Railway, and CSX Corporation, dying in the saddle at CSX.
Needless to say — hold on to your hats, here, folks, the customers are saying that PSR does not provide service, assets are not maintained, safety is not the top priority (“schedule,” as suggested by the name, takes pride of place), and people are not being cultivated (or if cultivated, they’re leaving in droves, whether fired or because they can’t stand it.
Technically, PSR reconcieves railroad network design: As airlines (from the perspective of the passenger) were once point-to-point, but changed under deregulation to hub-and-spoke, railroads were once (from the perspective of the freight car) hub-and-spoke, but changed to network. One question is whether it’s as easy to “schedule” freight car drop-off and pick-up with the “precision” of air travel; the answer seems to be no, although as we shall see, that doesn’t matter very much to the railroad owners.
Here is what management will tell you PSR is, from Trains:
In his book, “How We Work and Why,” published while he was chief executive at CN, Harrison outlined five guiding principles. They are:
● Provide Service: Do what you say you’re going to do.
● Control Costs: Eliminate unnecessary costs.
● Optimize Assets: Use assets more efficiently and productively.
● Operate Safely: Safety is the top priority.
● Develop People: Cultivate the best team of railroaders.
You’ll see nearly identical versions of these foundations on the websites of the Class I PSR systems
As things turn out, however, Harrison’s bafflegab boils down to optimizing a time-honored railroading metric called the Operating Ratio (OR):
Through both the benefits and challenges that accommodate this methodology, the ultimate goal is to achieve a lower operating ratio (OR) – the industry’s most widely used measure of operational efficiency.
At the end of the day, consolidating networks, eliminating less efficient lanes, increasing speeds and sizes of trains, and reducing payrolls are all in the name of decreasing ORs. The OR is the most common metric used to measure the success rate by a railway’s investors. The operating ratio represents how much a company needs to spend to make a dollar.
In other words, if a railway’s operating ratio is 60—the common level most railways implementing PSR aim to achieve—the company would make 40 cents for every 60 cents spent. A variety of strategies can decrease OR like decreasing the workforce costs, removing older trains or railcars from the fleet, and implementing newer more efficient equipment and technology, as mentioned above. PSR is the most popular and lucrative means of decreasing OR.
However, this focus on OR may have certain drawbacks because the priority is placed on short term gains.
“Certain drawbacks” is delicately put! Alert reader Upstater translates the simple into the complex:
Precision Scheduled Railroading] is basically an Orwellian term for massive reductions in physical plant, employment, abandonment of whole business sectors, asset stripping and massive executive compensation schemes.
You say “massive executive compensation schemes” like that’s a bad thing! (Wall Street, of course, loves PSR).
The Railroad Workplace is Complex (Irreducibly So)
This Politico headline tells you a lot about the state of contemporary journalism, so-called: “The supply chain’s little-known weakest link: Railroad workers.” Ah, well, nevertheless.
We noted that the start of this post that trains are big. Long, very long trains are one outcome of the quest for OR driven by PSR. From Peter DeFazio (D-OR) in Fortune:
One of the many impacts of PSR is the uncontrolled growth in train lengths. A U.S. Government Accountability Office (GAO) study found that between 2008 and 2017, train length grew by 25% for two Class I railroads (which comprise the seven largest railroads in the U.S.), and officials from each Class I stated they operate longer trains, including some that extend for several miles. Freight railroad investor calls continue to boast annual train length increases every year.
Fazio, being a Democrat, naturally focuses on traffic jams and not workers, so let us remedy that
PSR means longer trains, and longer trains mean more derailments. From Railway Track and Structures:
Precision scheduled railroading (PSR) has introduced a new dimension and meaning to the old adage, “Uphill Slow, Downhill Fast, Profits First, Safety Last ,” too wit. Gravity carries great sway over train speeds on river (level) grade, ascending and descending railroad trackage. Everyone who manages train operations or operates trains knows that, and the following: Short trains are easier to operate than long trains, no matter what the grade. If you are operating a train over long descending grades, or long ascending grades, followed by long level grades, there are relatively few in-train forces, slack action, run-in, run-out. But, if you are operating a train over undulating trackage, commonly referred to as hog-backs, where I come from, you have a whole new ballgame, one that increases the probability of an accordion-like derailment.
Normal is the type of trains they ran before PSR. If you expect them to get your monster trains over the road safely and efficiently, you might want to invest a little more time in education and training, even if that adds a smidgen to your operating costs.
Of course, education and training cut your OR, and who wants that? Education and training also imply a greater degree of employee retention than the railroad firms are currently able to achieve
PSR means fatigue, and fatigue means accidents. From the AFL-CIO’s Transportation Trades Department:
Rather than maintaining appropriate staffing levels, carriers are mandating overtime for workers who are already stretched thin. In an industry where fatigue is a constant risk factor, exposing employees to additional fatigue by asking them to work longer and faster while performing multiple jobs is a recipe for disaster.
(There are also issues of getting workers from where they are sleeping or living, to the train to which they have been assigned; they aren’t paid for this time.)
PSR means decreased inspection, and decreased inspection means accidents. From Freight Waves:
Another change is PSR’s impact on the timing of the inspections, according to Randy [(a signal maintainer)]. Because the trains run on a fixed schedule, the dispatchers are reluctant to give the signal maintainers the time they need to conduct a thorough inspection because they don’t want to delay the trains.
Management: We don’t need no steenkin’ signals!
[Jason] Cox argues that carmen aren’t given enough time to inspect the railcars because of the drive to keep the trains’ schedule. Inspectors used to take up to three minutes per freight car but have now been encouraged to take one minute per car, according to Cox. That time includes the amount of time to walk around the equipment, he said.
You see the size of those cars. This isn’t possible.
Finally, PSR means violating craft boundaries, which means unskilled people doing skilled work. Again from the AFL-CIO:
Carriers are also compensating for reduced staffing by requiring remaining employees to perform work outside their craft in addition to fulfilling their regular duties. At best, this may involve employees performing tasks with which they are not experienced. At worst, employees may be forced to do work for which they are not qualified….
One responding machinist reported being sent, by himself, to work with dangerous and heavy equipment that once required two workers, and expressing fear that no one would know to call for help if he was injured. A carman wrote that at his yard, management now demands brake inspections be performed at the extraordinary and unsafe pace of just 60 seconds per car. Employees of both crafts say critical safety rules designed to protect employees from being hit by equipment are being ignored in the name of speed. Numerous employees stated that re-shift safety briefings—a common industry practice—are being eliminated in order to better utilize man-hours. And commonly, carmen are being forced to ignore FRA defects. One consistent theme emerged throughout the responses: railroads value getting trains moving and moving quickly above all else, including safety.
Finally, the railroad firms would like to move to “Single Employee Train Operations.” Look again at the picture; this is obvious lunacy. Railroad Workers United raises the obvious safety issues:
Without a second crew member to assist the train operator, an endless number of distractions would come into play. The lone crew member would now not only have to operate the locomotive, but would also have to do all of the talking on the radio, not just with the train dispatcher, but with signal maintainers, gang foremen, other train crews, etc. The single operator would be responsible for properly giving a visual look-over or “roll by” to other trains that are met and passed. And the single crew member would be responsible for all paperwork including the train’s manifest and the position of all hazardous materials in the train. Currently these duties fall to the conductor, thereby alleviating the train’s engineer from the muti-layered distractions that this work can cause, taking the engineer’s attention away from the immediate task at hand – running the train.
But more subtly:
With a single employee crew, valuable mentoring time would be lost. Many conductors work for years in the left hand seat, gaining valuable understanding of the signal system, operating rules, air brake system, etc., long before they ever become an engineer. Without the two person crew, this “university” will be lost forever, and the entire operating employee workforce would over time invariably become less professional, less seasoned, and less safe. And this loss of education that surely would ensue by running single employee trains would have a detrimental effect on all operating employees, not just those who are new or inexperienced. The lack of two employees in the cab means a lack of informal conversation, reflection, storytelling, discussions of rules and signals, etc. Much of the learning that takes place every day a railroad worker goes to work is in the cab of the locomotive, as the two employees share their collective knowledge, experience and wisdom that each has acquired over the years. Without the two person crew, this ongoing day-to-day classroom is lost.
So PSR, in addition to gutting the workforce, is making the workers who remain more stupid.
In fact, a strike seems unlikely, even to the workers who voted overwhelming for it. From Jason Furman:
The Brotherhood of Locomotive Engineers and Trainmen, a Teamsters affiliate and one of a dozen and a half unions involved in national rail bargaining with the largest freight carriers, are taking a national strike vote. The vibe I get from workers I’m in touch with is that… a national rail strike is never going to happen (depending on who you ask having to do with the Railway Labor Act and its reliance on a Presidential Emergency Board, or because the unions just could never actually get organized to pull it off in their sorry state, or because the rail union leaders just don’t have it in them)… The upshot is nobody really thinks 120,000 railroaders are going to strike in a midterm year during a supply chain crisis but then again people keep being wrong about things.
So far, the contract talks have not gone well, so it’s unclear what value the PEB will add:
The contract talks remain mired in mediation while the railroads pursue unpopular proposals to cut rail crews from two people down to one in certain circumstances. The unions also don’t want to make major concessions in workplace rules after seeing nearly one-third of all railroad jobs eliminated over the past six years as the major freight railroads have overhauled their operations.
(I did manage to find one contract proposal, but oddly the question of “Single Employee Train Operations” was not addressed, which is either goofy or ignorance on my part of how contract negotiations proceed.)
Once again, if workers could strike, they would have extraordinary leverage:
There hasn’t been a rail shutdown in the U.S. since 1992, when machinists at CSX Transportation went on strike. Their work stoppage actually shuttered all American rail operations, including passenger service, which operates on some freight rail. At the time, the White House estimated that the shutdown cost Americans $1 billion per day, or more than $2 billion in today’s dollars.
The 1992 strike, just two days long, was still incredibly disruptive. The Chamber of Commerce fears that a work stoppage this time around could be similarly crippling. “Any breakdown would be disastrous for U.S. consumers and the economy and potentially return us to the historic supply chain challenges during the depths of the pandemic,” wrote Suzanne P. Clark, CEO and president of the Chamber of Commerce, in a July 8 letter to the administration.
On the Trillbillies podcast (starting at 23:39) music star Sturgill Simpson describes one of the jobs he had:
I worked for Union Pacific. I started out as a conductor at an intermodal switching facility outside of Salt Lake City. We’d pull in trains from all over the country, break them apart, consolidate the freight, and build other trains. It was great until I screwed up and took a management position. Then it became no fun very quickly.
Simpson also describes the pressures of the job: If a train was as little as fifteen minutes late, shippers would call, generally yelling. It strikes me that “Precision” “Scheduled” railroading would be highly vulnerable to wildcat strikes at strategically located yards. Or accidental derailments at the throats of said yards. Something to watch for?
 From Freight Waves:
If BNSF was publicly traded, it is likely that management would be pressured by activist shareholders to adopt a more PSR-like approach to cost management. There might even be an attempt by shareholders to replace the management by proxy with managers with “PSR experience.” That was the case referenced above with Canadian Pacific Railway in 2011-2012 as a proxy battle led by Pershing Square Capital Management replaced CEO Fred Green with Hunter Harrison. But, we’ll likely never know, assuming that Berkshire Hathaway holds on to BNSF for an extended period of time.
Pershing Square Capital Management is a hedge fund run by Bill Ackman.
 We saw one such recently at Santa Fe Junction, in Kansas City, MO.
 I lifted the extremely dry “that’s a damn shame” from Sturgill Simpson.
We keep eating the seed corn without ever having a plan for the far out future. As a parent who has born children into this “society”, I fear for them most of all.
This is why it’s important to raise red diaper babies.
I think I did my part. She’s 17 next month. Warrior Princess for the Left.
How bout we get rid of “red or blue”, and just raise American diaper babies. Ones that will tackle the problem, instead of using it as an excuse for inaction.
The word “cringe” comes to mind…
Interesting, informative article. Are there stats showing higher and increasing accidents, employee injuries and derailments, particularly with those companies that follow PSR?
The Federal Railroad Administration (FRA) keeps track of accidents and injuries on its dashboard. It’s listed in raw data format, but one could render stats regarding injuries per hour worked or accidents per Total Train Miles to compare apples-to-apples.
The anecdotal info I’ve seen from railroaders is that the equipment and infrastructure is wearing down & things will only get worse because safety margins are going away. Same for the individuals who work for those PSR railroads who have mandated overtime.
“This long list — I count fourteen — reminds me of nothing so much as the myriad of German petty states, ecclesiastical principalities, and free cities of the Holy Roman empire.“
As I read this, I couldn’t help thinking this is the prototype for the NGO industrial Complex, patinated and dusted over by the emissions of auto and air travel, barely visible through the grime.
Thanks. I live in a railroad town or at least it styles itself as Hub City because it was a railroad junction going back to antebellum times. When I was a kid the notion of a fun evening would be the parents taking us downtown to see the trains and then, if lucky, over to the downtown airport to see the planes with ice cream cones in between. And I know about those jouncy freight tracks, having once taken the Southern Crescent from here up to NYC. The article quoted above says that some railroad workers do make six figure salaries even as their working conditions are deteriorating. The biggest impact of the strike/no strike may be yet another snarl in the supply chain.
I don’t get it: “(from the perspective of the freight car) hub-and-spoke, but changed to hub-and-spoke”.
Fixed, thank you. Reversing what the airlines did, the railroads moved from hub-and-spoke to network.
Interesting read, thanks LS. I wonder what the penalties would be if the rail unions ignore Congress’s work order. Also, what are the invisible costs of automobile traffic sitting and idling while one of those super long trains rolls by? Delivery trucks waiting? Ambulances? Town after town?
The real question is can anyone in the US organize a general strike such that the militarized pigs would be unable to respond, Uvalde style? Strategy time. Jesse Ventura plus Bernie? LOL
Your statement reads as if your against railways. If not for railways, there’d be a lot less stuff and work for those waiting for the train to go by. And you think that “stuff” can just be moved by truck, well, I guess your not really paying attention
As was the case 40 years ago when i was a unionized railroad worker, the primary problem with railroad unions is over paid, under worked and sometimes hideously corrupt leadership. They were sort-of (s)elected by committees of some members, but are far, far removed from the trenches. Like CEOs, they are mostly concerned with maintaining lavish lifestyles and perks.
Obviously if the union leadership was willing to ignore these imposed solutions and lead an illegal strike, they’d forego the perks.
Railroads have also outsourced key functions to non unionized contractors and centralized control. The PSR model is like a moving Amazon warehouse on rails with rules and surveillance. Railroads have also actively recruited ex military for both line management and operating crews because they take orders.
Railroad workers could be incredibly powerful with authentic working class leadership.
I work in a rail-adjacent industry (electric power) and have learned more about railroads in the last 12 months than I ever thought I would need to. Turns out you need trains (and appropriately compensated and humanely treated conductors) to move coal. Who could have thought?!
The railroads made this bed over the course of decades, and now the rest of the productive economy is laying in it. It makes me wonder what other essential, but generally “invisible” sectors of the economy have been gutted by shareholder capitalism. And also what tipping points will make them very visible indeed.
On the topic of the strike, folks far more in the know than I am have said they are generally expecting (a) no strike, but (b) potential increases in absenteeism and worker exodus in response to a congressional “back-to-work” order; both of which are already high to begin with… Take that anecdata for whatever its worth.
Do not know much of anything about railroads; on the lack of proper maintenance of the brakes and the oversized trains, I took a look at maps including topographic ones showing just where the lines to from the West Coast ports. From what I could read, with the slight exception of the ones going to Tacoma, it looks like they all go through the Rockies and some also go through the Sierras. The lines going directly to Oakland must must be going along some steep grades. Just driving to and among those mountains can be taxing on a car. Those mountains are not small.
I get that the current management is extremely short sighted and the stock holders even more so, but since most of six states are mountainous, that you can only get across the country going through them, doing everything you can to make it harder to cross, and then cutting back a third of the workforce while making them so angry has made 99.5% vote to strike seems, I don’t know, a bit crazy?
Or does the management have some super-duper sure fire plan, if one of passes (and maybe a small town) gets destroyed? Also, I seem to remember that some of the few highways that go through the mountains also go along some of the same passes being as there are not that many places to cross especially right through the middle and shortest route. Do they think that they have the same pull as Goldman-Sachs, Morgan Stanley, or PG&E? Perhaps they got the
bribescampaign contributions set aside? Am I cynical enough?
Offered without comment:
Biden needed to get dilbit bomb trains from Canada to TX, LA & Mexican goods, north?
It was obvious to many of us, that this was one of many reasons DNC™ was obviously more than willing to lose to Trump, to crush Sanders’ policies, whether consciousness on his part or not. Sacrificing Ukranians to save Albright’s fracking pyramid scheme was repeatedly mentioned in lefty comments threads as far back as 2015. I remember a speech by Putin, outlining their subsequent reaction, as Obama debated Clinton?
re: H. Harrison and G. Ackman
You know, in the 1980s, even within our nation’s 2nd biggest chemical company (second hand, via my dad) and in the halls of Congress from actual members, I used to hear, “We have other values and priorities than making these p****s more money.” Across all pieces and strata of our society, those born or raised under Reagan and Clinton seem to feel this would be like saying, “I’m a proud commie and I hate motherhood, too.” Pathetic.
I know zilch about trains, but I do know a little about RR tracks cos I’ve driven over them. A lot are very poorly maintained, or not at all. It’s miraculous that there are not more derailments. Man, am I sick of overpaid, greedy shareholders and CEOs!
> Without the two person crew, this ongoing day-to-day classroom is lost.
I remember when I was leaving in Philly, my SEPTA commute home was rerouted out into the boonies because Center City was all fouled up (a not uncommon occurrence, although the long detour was).
I remember the driver (male) taking the opportunity to teach the conductor (female) the signals on the line, and other things to watch for; I found this unexpectedly touching and encouraging. So the whole work force was better for this, and so the passengers, too. This is the sort of opportunity that would be lost without two person crews.
This reminds me of the terrible 2015 Amtrak crash, also in Philly:
(Ironically, the engineer had wanted to be an engineer all his life; he loved trains.)
Strange that we look for a technical solution, where putting two people in the cab isn’t even an option.
“Irreducible complexity” of this national system is a fool-proof argument for local manufacturing and local distribution.
Sheesh, I mean one person driving one of those ginormous trains? No way. It’s goofy. So two is an irreducible minimum, easy to see as soon as you move away from your spreadsheet. One minute per car inspection? Goofy, too, for the same reason. I do think monopoly power is what allows such goofiness to even be considered. I’m not sure that’s an argument for “local,” however. It could be an argument for a nationalized system, were it to be democratically run.
I have always loved trains.
I had them in my basement as a child. I also heard the “train whistles” off in the distance, as most anyone who grows up in flyover can relate. I spent some time in the East Bay and I have to say the BART train sounds like a punishment, whirrrr, in relation to a proper freight train rattling down the tracks.
For the past 18 years back in flyover I have had a train at the end of my street, on tracks over a creek bed.
Just to say that I have a stake in all of this. As much as I love the trains, I also fear them. The south-bound trains are carrying nasty crude from South Dakota on the way to Western Illinois for refining and then down the Mississippi for sure. The north-bound trains mostly rattle through empty, you can tell because the house doesn’t shake.
There is a big fight about pipelines in the Midwest, and when I talk to activists I voice my fears about trains. They have convinced me that pipelines are even worse. Sigh.
Super funny that you confused Jonah Furman with Jason Furman. I been reading too much. Thanks for the deep dive.
Don’t be fooled BNSF is running PSR they just don’t say it, because they don’t directly answer to Wall Street.