On Air Now

Current Show

News & Views with Joel Heitkamp   8:30 AM - 11:00 AM

Call News & Views at 800-880-5346 or 701-237-5948

Show Info »

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 790 AM Fargo-Moorhead

Weather

Current Conditions(Fargo,ND 58103)

More Weather »
56° Feels Like: 56°
Wind: SSE 10 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Sunny 72°

Tonight

Clear 46°

Tomorrow

Sunny 73°

Alerts

Regulator: ND oil rail shipments expected to spike

BISMARCK, N.D. (AP) - North Dakota's top oil regulator says producers will increasingly ship more crude by rail to take advantage of better prices at markets not served by pipelines.

State Mineral Resources Director Lynn Helms told the Legislature's Government Finance Committee on Thursday that he expects as much as 90 percent of the state's crude will move by rail in 2014. Rail shipments now account for about 60 percent of crude produced in North Dakota.

North Dakota's oil production is nearing 1 million barrels daily.

Helms says oil prices have been slipping since July. He says it costs more to ship oil by rail than by pipeline, but producers are able net about $24 more per barrel by sending it on trains to U.S. refineries, where premium prices are fetched.

Comments

Comments are not enabled for this article.