The responsive applications are in + if you were hoping for a quiet autumn, we have bad news for you. David + Harris work through what BNSF, CSX, CPKC, + CN each asked for if the UP–NS merger gets approved + what those asks give away about where the Class Is think the industrial economy is heading. Anyone else have Pennsylvania + the Gulf as the freight rail destinations of 2026?
Then, of course, comes the part nobody could have possibly priced in at the beginning of the year. Diesel is sitting comfortably above six dollars a gallon, WTI is over a hundred, oil inventories are sitting at a 20-year low, + railcars are being retired faster than they can be built.
And finally, Barstow. BNSF is spending BIG money in the middle of the Mojave Desert + Harris went deep into causal diagrams + old Jay Forrester papers to figure out why.