January 28, 2012
'Thank You, Warren.' 'No, Thank You, Mr. President!'
The "tar-sands" oil from Canada, and the crude from the Bakken and Three Forks formations in North Dakota, will be extracted regardless of the ultimate fate of the Keystone XL pipeline, but should the pipeline not be built, nearly all of the transport infrastructure for moving this oil will belong to one man: Warren Buffett. A report on Bloomberg News outlining the benefits expected to accrue for the Omaha-based billionaire from the denial of the Keystone XL permit has received a great deal of play, appearing as a lead story on The Drudge Report, on Glenn Beck's news site "The Blaze," and in commentaries around the internet on sites such as Human Events. In early October of 2011, I wrote an article for American Thinker about precisely this subject. I gave an extensive interview about the article to Alan Butler, host of the popular Atlanta radio show "Butler on Business." About a month later, a piece covering some of the same ground appeared in Investor's Business Daily,...(Read Full Article)