OIL PIPELINE MARKETS AND OPERATIONS
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Despite a considerable literature regarding other modes of transportation, little is written
about oil pipelines. This is remarkable since oil pipelines move 17% of all intercity ton
miles, but also understandable since they have a low public profile and with near total
automation, have few employees. This article attempts to bridge the gap by comparing
pipeline operations and those of the other modes, showing striking similarities along with
a few significant differences. It also portrays pipeline markets and their changing trends.
In recent years, they have served an industry that is experiencing rapidly shifting
geographical markets, proliferation of new products, and outsourcing of transportation by
shippers. The pipeline industry has responded to these challenges with increased
competitive entry, numerous capital construction projects, and a high reliance on
technology. These issues, along with the regulatory constraints and responses are
portrayed.