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  "documentTitle": "Union Pacific Corporation (UNP)",
  "authorId": "15_Soroban",
  "authorName": "Eric Mandelblatt",
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      "text": "Trucking rates will be structurally higher, which makes rails comparatively more appealing (and enhance pricing power of rails)",
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      "text": "EIA Retail On-Highway Diesel",
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      "text": "Inflationary pressure from labor and fuel are pressuring trucking margins, causing truckers to raise rates. Trucks set the marginal price for most freight movements, creating a favorable (and rising) pricing umbrella for rails. As truck prices need to rise to offset inflationary costs, rails become more attractive, particularly over longer lengths of haul. Rails should be significant market share gainers going forward",
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      "text": "Source: Soroban analysis. Rails cost profile per UNP's 2021 cost breakout. Trucking cost profile per the American Transportation Research Institution for 2021.",
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      "text": "“Golden age of railroading growth” (1/4): trucking market facing structural headwinds",
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