CSX Train
Derails Spilling Oil

A CSX Train Derails Spilling Oil near Lynchburg Virginia, then explodes into flames.   It’s reported that there were approximately 15 cars on the train carry oil and many were seen in flames.  There were no reported injuries but 300+ people were evacuated and moved away from the wreckage and subsequent fire.

Environmental Impact

The environmental impact of a crash like this is likely to be a big topic of conversation in the coming days.  There have been a number of derailments in recent years causing explosions and sometimes death.  Hauling Oil by train creates some environmental concerns as any crash naturally leads to a wreck and could cause further problems.  Residents in areas where the crash occurred are encouraged to stay away from the area until the crash can be contained and the environmental impact also contained.   While there is cause for concern when a train derails spilling oil, the main concern should be focused on preventing a train derailment in the future.   Many times trains are necessary to transport oil and gas out of an area because pipeline are not available or capacity is full.

CSX Train Crash Stock Price Impact

As of 5:28 EST, CSX stock was trading down .02 cents in after hours trading. It will be interesting to see how this crash will impact the stock price tomorrow.  The immediate impact may not be in the crash itself, but from regulations that this crash could spur.  An investigation is likely to occur to determine the cause of the crash.  They will subsequently be looking for liability on the part of CSX in preventing the crash which could create additional costs for CSX beyond the cost of the crash.   Insurance will likely cover the initial costs of the crash so it will be important to keep an eye on what regulation comes after the fact.

Impact on Mineral Owners

While there is no immediate impact on mineral owners due to an event like this, it’s an important to keep an eye on industry events.  These types of events can spur changes in regulation that will directly affect the mineral owner.  If you have questions or concerns about how this could affect your property, get in touch with us and we would be happy to discuss it with you.  In most cases a mineral owner does not need to be concerned when an event like this occurs.  The impact is typically localized and will not impact you directly.

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