The American Petroleum Institute said federal proposals for safer transit of oil by rail are not feasible, though its program can provide a reasonable solution. API said proposals outlined by the U.S. Department of Transportation for safer oil transit could stifle North American crude oil production . “We have instead proposed an aggressive yet achievable program for retrofitting the crude oil fleet to get stronger cars onto the tracks as fast as possible while limiting the most adverse economic consequences for consumers,” API President Jack Gerard said in a Tuesday statement. API said it was proposing a railcar with walls about 1/16 of an inch less than the federal guidelines for rail cars carrying crude oil. The Department of Transportation in July called for the elimination of older […]