Rising Energy Costs May Usher in U.S. Freight Rail Revival
Monday, October 22, 2012 - 06:00
in Mathematics & Economics
It just may be a hunger for wood pellets that drives a resurgence of freight rail in the U.S. Southeast. European demand for this greener fuel is expected to triple by 2020, driven by climate-friendly policies that encourage coal-fired utilities to burn biomass as well to cut down on carbon dioxide emissions. But Europe does not have enough wood pellets, and the shortfall between global supply and demand is expected to grow to 45 million metric tons per year. And that is where Sean Dunlap, director of Mississippi's Wayne County Economic Development District, sees an export opportunity. [More]