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1. TRANSPORT

Railroads hauling oil plant their flags in pipeline territory

For a U.S. oil industry transformed in recent years by new drilling technology, freight trains seem like a decidedly old-fashioned way of shipping crude. But the nation's dominant railroads, including Warren Buffett's Burlington Northern Santa Fe LLC, are rapidly becoming a long-term competitor to oil pipelines, driven by Midwestern refineries desperate for supplies of cheaper oil out of expanding production fields in the Great Plains.

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