March 22, 2012
Was Keystone Blocked to Benefit Buffet?
While our anti-petroleum president is visiting oil and pipeline country in a Potemkin photo op attempt to imply that he is what he clearly is not, here's something to ponder. Are you one of those who've wondered why billionaire, Warren Buffet, is so cozy with the Obama Administration? In an article published a couple of weeks ago by Bloomberg News, which gained little traction, author, Natalie Doss, noted that Buffet had made another one of his "pretty good bets" back in 2009 when Berkshire-Hathaway bought the Burlington Northern-Santa Fe Railroad. Doss reports: Fort Worth-based BNSF Railway's track network puts it among the best-situated of its peers to meet shipping demand for hydraulic fracturing sand, pipe and crude in the northern U.S. Bakken region, where oil production has more than tripled since 2008, according to data compiled by Bloomberg. Gains in mineral and chemical carloads helped BNSF pay a $1 billion distribution to Buffett's Berkshire Hathaway last month. The...(Read Full Post)