Norfolk Southern Corp. Chief Executive Charles W. “Wick” Moorman said that the rail industry will challenge the federal government’s new crude-by-rail rules, adding regulators have “made some serious mistakes in the regulations.” The new safety rules could make shipping crude oil by train prohibitively expensive, Mr. Moorman said in an interview on Tuesday. “At a certain point, the economics are such that you can’t justify shipping the oil. The price to get it to the refinery is too high and the downside of that is that it will throttle the journey toward energy independence in this country,” Mr. Moorman said. On Friday, the U.S. Department of Transportation called for installing new braking systems on trains hauling more than 70 cars of […]