@micheal_can and
@crs1026
You both have good points.
May I suggest that while some aren't bridgeable, some should be.
CRS may put a bit more emphasis on a right to profitability relative to Micheal
But surely we can agree that operating ratios today are historically and perhaps stupidly low.
Watching Washington, February 2019: Sizzle sells product. No wonder the sizzle of ever-lower operating ratios is leading to remarkably higher railroad share prices. But as operating ratios—operating expenses as a percentage of operating revenue—flirt with a sub-60%, the meaning for the longer...
www.railwayage.com
This article discusses how lowering expenses to increase profitability can actually impede growth and notes how Harrison's successor has had to spend precious capital actually reinstalling second tracks that Harrison spent money removing.
That is unquestionably wasteful.
There is room to accept private companies having a profit-goal; and to question whether they are pursuing short-term, quarterly profits at the expense of medium and longer term ones.
Its not unreasonable to note that government could play a more constructive role through policy and regulators with certain forms of intervention; but equally fair to note that the regulator often gives the appearance of being very cozy w/those they
regulate and that would seem to shift the onus back on to the operators who wield outsized influence over the regulations they face.
There is little question that with longer trains, and moves toward greater distance freight, but less short-haul, that some routes had unneeded capacity, even into the forseeable future.
Further that some routes just had no foreseeable economic rationale for their existence, and no great public policy one either.
But that doesn't take away the reality that some segments of double-track removed were still useful in the moment; or likely will be again soon.
It also doesn't take away that some routes could have been made viable again, perhaps with government intervention; and that in some cases the argument for doing so was compelling, while in others it was marginal.
A more constructive approach, in my opinion looks at which routes/segments fall into which category; and which 'mistakes' are worth correcting after the fact, and which are lamentable, but done.