Why am I not surprised by the news that Warren Buffett stands to profit off of President Obama’s denial of the Keystone XL pipeline?
Warren Buffett’s Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration’s decision to reject TransCanada Corp. (TRP)’s Keystone XL oil pipeline permit.
With modest expansion, railroads can handle all new oil produced in western Canada through 2030, according to an analysis of the Keystone proposal by the U.S. State Department.
“Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc. (BRK/A), said in an interview. If Keystone XL “doesn’t happen, we’re here to haul.” (Read More)
They better hope their railroad doesn’t interfere with the lives of bugs or rodents, or the environmentalists will shut them down, too.
Update: If the links above are broken try this one.
Tags: Keystone XL, obama, railroad, Warren Buffett
And yet more evidence that the conspirecy is real. BHO will ruin the country just so HIS fat cat billionaires make money and support him.
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I think there is a law that prohibits this type of favoritism on the part of the president. To reward a contributor is tolerable, but to enrich someone at the expense of the entire country is clearly a crime!
For some reason, several ex-governors from Obama’s state of candidacy, Illinois, are serving time in jail for similar activities!
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Picture this happening when Bush was president. The roar from the media would have been deafening and barrels of ink would have been consumed condemning his cozy relations with his corrupt friends. The msm will never be honest.
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XL is paying for the pipeline. If XL is smart enough to be based in Canada where the corporate tax rate is about one half what it is in the US I presume they know the cheapest way to get their oil to Texas.
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Because TransCanada would want a dedicated means of getting oil to refineries from the tar sands, not one that could sit around in rail yards for days at a time, require a crew change every couple hundred miles and require MORE fuel to cycle the empty tank cars back to Alberta
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Why has the link vanished??
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To be fair, BNSF would’ve benefitted in either instance. If it was approved, BNSF would be the only Class 1 carrier to serve the area the pipeline will run through (at least as far as Nebraska), so they could’ve been hauling in pipe, construction equipment and supplies as well…
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So I guess this is why Warren calls for higher taxes. As an Obama crony, he’s lining his own pockets with monies derived from the decisions of the ultimate insider.
You’ll never hear these guys proposing a tax on their already amassed wealth, only on incomes because they’ve already “made it” and they don’t want others to.
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We were so stupid. We thought we had him all figured out! He was bowing to his enviroradicals or he was throwing yet another used-up pal, this time his unionisas, under the bus, when all he was doing is time honored con artistry of cronyism, extortion, bribery, and shakedowns; he goes looking for stooges willing or “persuaded” to buy him out. — “Cough it up pal?” “You grease my palm, I’ll scratch your a$$”!!!
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The original Bloomberg article that you linked to is gone baby gone, but SF Gate still has a version up on their page: http://bit.ly/yraJUB
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[...] was choosing from benefits his buddies. Not only will he reward his billionaire pal Warren Buffett by killing the Keystone project, his other billionaire buddy George Soros will profit from his natural gas proposals.The proposal [...]
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