WASHINGTON, D.C. (Bloomberg) -- The Obama administration proposed phasing out older tank cars tied to a deadly derailment a year ago and lowering speed limits as part of a set of new rules intended to reduce the risks of hauling crude oil. The proposal, which follows a series of fiery accidents, also will require improved braking systems and testing of crude oil before being loaded, according to a Transportation Department statement on July 23. The rule applies to shipments of corn-based ethanol as well as oil.
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