{"id":1984715,"date":"2023-07-27T22:57:02","date_gmt":"2023-07-28T02:57:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/norfolk-southern-says-cost-of-east-palestine-derailment-has-doubled-as-chemical-cleanup-continues\/"},"modified":"2023-07-27T23:00:48","modified_gmt":"2023-07-28T03:00:48","slug":"norfolk-southern-says-cost-of-east-palestine-derailment-has-doubled-as-chemical-cleanup-continues","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/norfolk-southern-says-cost-of-east-palestine-derailment-has-doubled-as-chemical-cleanup-continues\/","title":{"rendered":"Norfolk Southern: East Palestine Derailment Cleanup Costs Doubled"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnorfolk-southern-says-cost-of-east-palestine-derailment-has-doubled-as-chemical-cleanup-continues%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1984715&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Rail Company Norfolk Southern Doubles Estimate on\u2062 East Palestine Train Derailment Disaster Costs<\/h2>\n<p>Rail company <a href=\"https:\/\/www.dailywire.com\/news\/entirely-avoidable-ohio-sues-norfolk-southern-for-train-disaster\" target=\"_blank\" rel=\"noopener\">Norfolk Southern<\/a> has revised its \u2062estimate on the cost of the East Palestine, Ohio, \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/trump-issues-pointed-message-to-biden-over-train-derailment-disaster\/\" title=\"Trump Issues Pointed Message to Biden Over Train Derailment Disaster\">train derailment disaster<\/a>, now stating that the associated costs will amount to $803 million.<\/p>\n<blockquote>\n<p>\u201cFrom the beginning, we\u2019ve been clear that we would be in town for the long haul,\u201d said \u2064Connor\u2064 Spielmaker, a Norfolk Southern spokesman. \u201cWe don\u2019t have a timeline to\u2063 provide as far as when it\u2019ll be \u2018job done,\u2019 \u200bbut we will be there until it is.\u201d<\/p>\n<\/blockquote>\n<p>According to \u2064executives, the\u2064 majority of the cost is attributed to the environmental cleanup as crews continue to work on removing \u200bthe \u2063hazardous chemicals released during the derailment six months ago.<\/p>\n<p><strong>\u201cWe are \u2064delivering on our commitment to recover service quickly,\u201d<\/strong> said Norfolk Southern CEO Alan\u200b Shaw. <strong>\u201cWe\u2019re delivering on\u200b our commitment to make a safe railroad even \u200dsafer. We\u2019re delivering on our \u200ccommitment to address quality of life issues \u2062for our\u200c hard-working craft railroaders. And we continue to\u2063 deliver on our commitment to make things right for the people of East \u200dPalestine and the surrounding communities.\u201d<\/strong><\/p>\n<p>The Wall Street \u2063Journal <a href=\"https:\/\/www.wsj.com\/articles\/norfolk-southern-nsc-q2-earnings-report-8b598b5b\" target=\"_blank\" rel=\"noopener\">reported<\/a> that Norfolk Southern recorded a $416 million charge related to the East Palestine disaster as part of its second-quarter earnings. \u200bThis is \u200dan increase \u200cfrom the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/norfolk-southern-says-cost-of-east-palestine-derailment-has-doubled-as-chemical-cleanup-continues\/\" title=\"Norfolk Southern: East Palestine Derailment Cleanup Costs Doubled\">previously announced 7 million charge earlier<\/a> this year, <a href=\"https:\/\/apnews.com\/article\/norfolk-southern-railroad-earnings-east-palestine-derailment-4a3d912b8cb4e66e1613e44220aba4c4\" target=\"_blank\" rel=\"noopener\">according to the Associated \u2063Press<\/a>.<\/p>\n<h3>Environmental Impact and Ongoing Cleanup Efforts<\/h3>\n<p>The derailment resulted in\u200c a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-suspends-oil-leases-in-alaskas-arctic-refuge-as-gas-prices-continue-to-rise\/\" title=\"Biden Suspends Oil Leases In Alaska\u2019s Arctic Refuge As Gas Prices Continue To Rise\">significant environmental impact<\/a>, with \u200bhazardous \u200dchemicals still present in a\u2063 creek and trucks hauling contaminated water and soil out of the town. Norfolk \u200cSouthern chose \u200dto burn several cars filled with the dangerous \u200bchemical vinyl chloride to prevent potential explosions, causing a cloud\u2063 of smoke to linger over the \u200dtown for \u2064days.<\/p>\n<p><strong>Norfolk Southern\u2019s $803 million estimate does\u200d not include compensation for any long-term \u200dhealth effects<\/strong> that East\u200d Palestine \u2062residents\u200c may experience due to the chemical spill.<\/p>\n<p><strong>Earlier this\u2063 month, \u2063Governor Mike DeWine (R-OH) <\/strong><a href=\"https:\/\/governor.ohio.gov\/media\/news-and-media\/governor-dewine-requests-presidential-disaster-declaration-for-east-palestine\" target=\"_blank\" rel=\"noopener\">asked<\/a><strong>  President Joe Biden to issue \u2063a major disaster declaration order<\/strong>, which would\u200b enable the town to <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/n-y-and-n-j-to-receive-federal-aid-after-deadly-flooding\/\" title=\"N.Y. and N.J. to receive federal aid after deadly flooding\">receive federal aid<\/a> for the cleanup.\u2063 However, the Biden administration has yet to make a decision.<\/p>\n<h3>Financial Impact on Norfolk Southern<\/h3>\n<p>As a result of the disaster, Norfolk Southern&#8217;s profit from railway operations dropped by \u200cover half in the \u2064most recent quarter compared to the previous\u200b year. Overall \u2063revenue also decreased by 8% to $3 billion. The \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bulletproof-backpack-makers-retailers-slam-new-york-confiscation-legislation\/\" title=\"Bulletproof Backpack Makers,\u00a0Retailers\u00a0Slam New York Confiscation Legislation\">company&#8217;<\/a>s profit decreased to $356 million\u200c ($1.56 \u200bper share) from $819 million ($3.45\u2063 per share) a year ago. Norfolk Southern estimates that without the derailment\u200b costs, it would\u2063 have earned $2.95 per\u200c share in the quarter.<\/p>\n<p><b><a href=\"https:\/\/onelink.to\/dwapp\" target=\"_blank\" rel=\"noopener noreferrer\" aria-describedby=\"sk-tooltip-9096\" data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/onelink.to\/dwapp&#038;source=gmail&#038;ust=1690455510071000&#038;usg=AOvVaw0zc8zwWGoXeRzcNJLiJVWI\">CLICK HERE TO GET THE DAILYWIRE+ APP<\/a><\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Norfolk Southern, a rail company, has revised its estimate for the East Palestine, Ohio train derailment disaster. The projected cost has now escalated to $803 million, with the environmental cleanup accounting for the majority of expenses. Crews are diligently working to eliminate the hazardous chemicals released during the tanker derailment.<\/p>\n","protected":false},"author":324,"featured_media":1984716,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[541],"tags":[],"class_list":["post-1984715","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1984715","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/324"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1984715"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1984715\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1984716"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1984715"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1984715"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1984715"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}