(Bloomberg) — The Obama administration proposed phasing out older tank cars tied to a deadly derailment a year ago and lowering speed limits as part of a set of new rules intended to reduce the risks of hauling crude oil by rail.
The proposal, which follows a series of fiery accidents, also would require improved braking systems and testing of oil before being loaded as well as thicker tanker walls, according to Transportation Department statement today. The rule applies to shipments of corn-based ethanol as well as oil.
"Today's proposal represents our most significant progress yet in developing and enforcing new rules to ensure that all flammable liquids, including Bakken crude and ethanol, are transported safely," Transportation Secretary Anthony Foxx said in Washington.
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