Smoke rises from an oil tank fire in Es Sider port December 26, 2014.
Amy Quinton December 24, 2014 Capital Public Radio News
A new law that goes into effect January 31 in California requires railroads to give more information to emergency planners about crude oil shipments.....
....Under the new law, railroads will have to submit weekly schedules of trains, and the volumes of crude oil they carry. They would also have to set up a communications center for first responders and give local authorities access to emergency plans. .... more here
Oil Jobs Squeezed as Prices Plummet Wall Street Journal (comments from naked capitalism)- As we predicted. The Journal still sees lower oil prices as a net plus for the US, but this view does not factor in credit market dislocation and whackage to pension funds and retirement accounts. We need to see how bad the downside is as what the second-order effects are to be sure this nets out as a plus.
.... to prevent a fire spreading out of control at Es Sider, the country's biggest oil port, ... government, said the fire had spread to a total of five oil tanks.