Railroads carried less crude oil in the first quarter as oil companies scaled back domestic shipments. The Association of American Railroads reported that crude oil carried by big U.S. railroads fell nearly 14% to 113,089 carloads compared with the fourth quarter of 2014. The railroads have been major beneficiaries of the U.S. energy boom, as oil companies shipped crude oil from the Bakken Shale in North Dakota to refineries on the coasts. But as the price of oil tumbled, shipments dipped. Crude-by-rail shipments are still a small part of railroads’ total revenues—only about 5% for the sector combined with drilling supplies—but the business has grown at a rapid rate in recent years. The tonnage of crude petroleum carried by U.S. railroads soared from about […]