Toxic Rail Sale
“You need long-term capital investment to get the conversion of the rail industry off diesel fuel,” UE General President Carl Rosen told The Lever. “And the railroads just won’t do it.”
It’s not just that railroads have proven unwilling to invest in an energy transition; their profits have increased as freight loads fall.
“It helps them earn high profits — they don’t have to run as many trains or keep as many people working, and they make more money by cutting down the amount of freight traveling by rail,” said Rosen. “Which is exactly the opposite of what we need as a society — we need rail to be replacing trucks, not freight hauling to be displaced to trucks.”