President Barack Obama on Dec. 4 signed into law H.R. 22, the Fixing America’s Surface Transportation (FAST) Act, which authorizes budgetary resources for surface transportation programs for fiscal years 2016-2020; reauthorizes taxes that support the Highway Trust Fund through Sept. 30, 2022, and expenditures from that Fund through Oct. 1, 2020; reauthorizes the Export-Import Bank through Sept. 30, 2019; and improves the Federal permit review process for major infrastructure projects.
In a Dec. 4 statement, American Petroleum Institute President and CEO Jack Gerard said the FAST Act will enhance the oil and natural gas industry’s ability to safely transport fuels.
“The bipartisan legislation makes key improvements to tank cars carrying crude oil by modifying the final Department of Transportation’s tank car rule released earlier this year,” he said. “Safety is our industry’s number one priority and we are always looking for new ways to reach our goal of zero incidents.”
The legislation requires all cars moving flammable liquids to now include elements such as top fittings protection and thermal blankets that are intended to mitigate the consequences of a derailment.
Oil and gas companies are regularly faced with many industry-specific issues to overcome. Such issues, including exploration and drilling, are often complex and intricate processes with many unique challenges to overcome. Data analytics can play a massive part in streamlining some of the most fundamental operations that are involved in the oil and gas industry.