curated by AJOT, Sept 9, 2021
Martin Oberman, chair of the Surface Transportation Board (STB), charged U.S. railroads with reducing service, raising freight rates, shifting more truckloads onto highways, contributing to global warming while deriving $191 billion in dividends and stock buybacks since 2010. According to STB data, Oberman explained “Since 2010, the seven Class 1 railroads have spent $138 billion on capital. Most of this is spent on the regular upkeep of the railroads which is essential. Relatively little has been spent on infrastructure needed to expand service and improve service.
