Despite the relative safety of crude oil rail transport, when incidents do occur, they can have catastrophic consequences. As a result, over the past several months, regulators in the United States and Canada have introduced a raft of new regulations and standards designed to improve the safety of transporting crude oil by rail.
Encouraging greater focus on routings, inspections, and equipment are a good start to addressing safety challenges, but Oliver Wyman believes that a more holistic approach is warranted – one that involves better coordination and planning to manage risks across all stakeholders in the crude-by-rail “supply chain.”
