New rules will boost costs to transport crude by rail in North America as trains are forecast to carry as much as 2 million barrels a day, about equal to what flows daily from Norway . “You’re going to see a massive flood of spending to get ahead of these government regulations,” Jerry Swank, managing partner at Dallas-based Swank Capital, said during the Bloomberg Link Oil & Gas Conference in Houston yesterday. Regulators in Canada and the U.S. imposed emergency requirements and may seek stiffer rules after a runaway train carrying crude derailed and exploded on July 6 in Lac-Megantic, Quebec , killing 47 people. Energy companies are transporting more oil on rail cars as new pipelines are delayed and improved drilling methods extract more North American oil. Across the continent, trains are forecast to move as much as 2 million barrels a day of crude by the end […]