As a member of the rail oligopoly in the US, CSX is able to maintain robust margins and market share. We believe that rail is massively underutilized in the US and that immense public investment into our rail infrastructure will need to be made over the coming years and decades. We expect increasing rail volumes as the push to green the economy gains momentum. Rail is far more fuel efficient than road based transportation. We expect CSX to benefit from these secular trends.
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