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Railroads' new golden age...
I thought the following NPR report was interesting. If you have broadband and are interested, download the audio. It follows the evolution of the railroads and what might come in the future.
The freight railroad companies are enjoying a resurgence of sorts. In 2005, Norfolk Southern and Burlington Northern earned about $1.5 billion in profits apiece. Union Pacific and CSX earned about $1 billion apiece.
For those who are not aware, in the US and Canada, the freight railroads are still used very heavily (contrary to the experience in the rest of the developed world). Even the small towns most often have freight railway access for industry. Adam Smith will be able to tell you the statistics, but trucking only just recently surpassed freight railways in ton-miles hauled per annum. It wouldn't surprise me to see freight railways regain the crown.
The freight railroad companies are enjoying a resurgence of sorts. In 2005, Norfolk Southern and Burlington Northern earned about $1.5 billion in profits apiece. Union Pacific and CSX earned about $1 billion apiece.
For those who are not aware, in the US and Canada, the freight railroads are still used very heavily (contrary to the experience in the rest of the developed world). Even the small towns most often have freight railway access for industry. Adam Smith will be able to tell you the statistics, but trucking only just recently surpassed freight railways in ton-miles hauled per annum. It wouldn't surprise me to see freight railways regain the crown.
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