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...According to an interview he gave to trade publication Trucks.com in 2019, his father was a manager at the Union Pacific railroad, and his mother died of cancer when he was a teenager....
...At Union Pacific, the largest listed railroad company, frac sand accounts for 5 per cent of revenue, according to Bernstein Research....
...US railroads including Union Pacific, the largest, have also recorded big falls in profits for the fourth quarter....
...Union Pacific fell 3.55 per cent to $71.00, after the railroad operator reported fourth-quarter results that missed analysts forecasts amid weakening freight demand....
...Union Pacific fell 3.5 per cent to $79.20, while CSX declined 1.6 per cent to $27.10....
...NS and CSX dominate the eastern US, Union Pacific and BNSF — part of Warren Buffett’s Berkshire Hathaway — the west and Canadian Pacific and Canadian National Canada and some lines in US....
...In the year to date CSX shares are down 14 per cent, while Union Pacific has dropped 5.6 per cent....
...The months-long disruption in US West Coast ports and falling traffic in coal and crude oil held back first-quarter profit growth at Union Pacific, operator of the US’s biggest rail network....
...Oxford has already decided that its GBP2bn endowment will shun direct investment in coal and oil sands companies and avoid investment in “sectors with high social and environmental risks”....
...However, he said, if oil prices remained at current levels, the company’s projections for crude oil traffic and related business, such as movements of sand for hydraulic fracturing of wells, would suffer...
...“Last year was the worst it has ever been,” Mr Burkhart says of the service the company received from Burlington Northern Santa Fe and Canadian Pacific, the two railroads that serve its nine facilities....
...(FT) A 40 per cent drop in oil prices since June has brought huge losses to exporters such as Russia and a shot in the arm for the US and Europe. But western oil companies are also among the losers....
...“Spreads are favouring the Bakken crude to move to the east and west coasts, and not to the Gulf coast,” says Jack Koraleski, chief executive of Union Pacific (UP), the US’s biggest rail network....
...Trafigura, another big trader, last year spent roughly $800m buying two petrol stations and oil import terminals companies....
...In the western US, the two big railroads – Union Pacific and BNSF – have invested heavily in the region’s booming oil production....
...Jack Koraleski, Union Pacific’s chief executive, said the company planned to invest more than $250m this year in assets mainly for use by its crude oil business....
...However, Jack Koraleski, chief executive of Union Pacific, operator of the biggest network, Wick Moorman, chief executive of Norfolk Southern, operator of the fourth-biggest, and Fredrik Eliasson, chief...
...The best-performing North American railroads – including Canadian National and Union Pacific – report operating ratios in the mid-60s....
...Pacific and BNSF already serve....
...Union Pacific Corporation , one of the biggest US railroads, posted record profits of $1.85 a share, although the strong performance was mainly down to higher charges....
...On Thursday, PetroChina agreed to pay $5.4bn for a stake in a gas field in Western Canada owned by Encana, further raising the profile of Chinese oil companies in North America....
...But animal spirits were reinvigorated by a spate of strong company reports. BMW raised its 2010 outlook....
...Oil lost 35 cents, to $83.99 a barrel, extending a four-day losing streak....
...The takeover, which is the biggest acquisition made by Berkshire, prompted a rally in other US rail companies, pushing Union Pacific up 7.9 per cent to $59.41 and CSX up 7.3 per cent to $45.97....
...Meanwhile, Wal-Mart has expanded into 14 countries, and its revenues have grown to more than $400bn in 2008, well over $1bn a day, making it the biggest non-oil company in the world (Exxon Mobile and PetroChina...
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