Stunner. Warren Buffet’s Company a Big Winner in Obama’s Keystone Decision


Investor Warren Buffett is presented with the 2010 Medal of Freedom by U.S. President Barack Obama during an East Room event at the White House February 15, 2011 in Washington, DC. Obama presented the medal, the highest honor awarded to civilians, to twelve pioneers in sports, labor, politics and arts. (February 14, 2011 – Photo by Alex Wong- Zimbio)

Warren Buffet’s Burlington Northern Santa Fe LLC will benefit greatly by Barack Obama’s decision to nix the Keystone Pipeline from Canada.
Bloomberg reported:

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.”

The State Department denied TransCanada a permit on Jan. 18, saying there was not enough time to study the proposal by Feb. 21, a deadline Congress imposed on President Barack Obama. Calgary-based TransCanada has said it intends to re-apply with a route that avoids an environmentally sensitive region of Nebraska, something the Obama administration encouraged.

No wonder he supports Obama’s disastrous economic policies.

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  • Greg

    Where is John Galt

  • Tyranny’s Bain

    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.

    Wouldn’t the construction required to expand the railroads have just as large of an environmental impact as the construction of a pipeline. Not to mention, rail requires the use of more energy to transport the oil than a pipeline would. Additionally, don’t trains derail and rail tankers leak.

    It is just like the exploding lithium ion batteries in the Volt or mercury in the CFL light bulbs. The protection of the environment is not what is driving these laws and regulations, it is crony corporatism.

  • valerie

    Crony capitalism isn’t capitalism.

  • Zim

    I knew there had to be a reason

  • Patty

    Hasn’t Obama been repaying his donors anyway. All along his presidency he has favored the wealthy of the wealthiest in order to continue his campaign.

    Obama talks about help the middle class. Yet, Buffet and Soros are two of his best pals. I am just saying that favors for Billionaires as the nation’s middle class struggles for work. So, what help is he talking about when he invest his time in chumming up to these two.

    Buffet has had success, why is it so hard to help the jobless? Dragging Americans down. And this statement, “what People bring us we’re ready to haul” How about a whole lot of BS.

  • Atlanta Media Guy

    It’s an Obama world, bought and paid for by the 1%. Hey occupiers! See the hopelessness in your cause? The very guy you support is the biggest benefactor by the entities you are protesting. Talk about hypocrisy on a Herculean scale!

  • olm

    Oh ho! This is absolutely no surprise.
    Nothing Obama is involved in is capitalism. This is wealth for a very few while they spread anything the little people have around.
    Keystone is going to be a tough campaign issue for the Bamster.

  • S

    The mathematical proof that Obama is evil.

    For this we know this truth to be true. Time = Money As without time we have no money, and without money we have no time.

    Over the past 4 years (Time) we have incrued a 4.5 Trillion dollar (money) deficit because of Obama. Thus we have Time * Money = Obama. Now we given our truths we have Time which is now Money so we get Money^2. Money^2 = Obama. Now we also know that Money is the root of all evil. So we have Money = sqrt(evil). Now we have Money^2 = Evil. Substitue Money^2 for Obama and voila. The mathematical proof that Obama = Evil.

  • bg

    ++

    Obama is doing all he can to assure “the
    rich get richer”
    adage is never aborted..

    /s/

    ==

  • paul52

    Wish one of Zeros cronies would “scratch my back.” Wake up, Occupoopers, the Emperor is playin’ ya.

  • Patty

    Obama Speech to Embrace Manufacturing for Job Creation

    http://www.bloomberg.com/news/2012-01-24/obama-s-state-of-union-to-embrace-manufacturing-rebirth-for-job-creation.html

    Read more @ Link
    Gov. Mitch Daniels of Indiana will give rebuttal after.

    Obama has some 11 Solyndra failures, while the pipeline in right there, Obama is a disgrace. And rich men get richer while America suffers.

    This sounds like what Santorum has been talking about.

    My question is EX pipeline, they said 20,000 jobs but there are more than that when considering jobs that will stem from this pipeline.

  • wanumba

    #3 January 24, 2012 at 8:43 am
    valerie commented:
    Crony capitalism isn’t capitalism

    ::::::::::::::
    Exactly. Capitalism is not what’s wrong here. CRONYISM – government connections, sweethert deals … that’s screwing capitalism and the free markets.

  • Mary

    If you had read “Throw Them All Out”, you would have seen this coming.

  • Patty

    OT
    sorta

    5 Million missing jobs haunt Obama’s state of the union address.

    http://www.globalwarming.org/2012/01/23/five-million-missing-jobs-haunt-obamas-state-of-the-union-address/

  • Pingback: Something Stinks … Re: Keystone Pipeline Declined | Bobbi85710's Mouth in the South()

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  • BurmaShave

    How long will it be before Obama awards George Soros with the Medal of Freedom?

    The two of them have certainly “piped” a lot of our money to Brazil to help the people of that country with their economic freedom.

  • bg

    ++

    valerie #3 January 24, 2012 at 8:43 am

    wanumba #12 January 24, 2012 at 9:16 am

    thanks for noting..

    from now on i will try and remember to include the definition of
    crony capitlaism
    for those sorely lacking comprehension skills..

    ==

  • Carbon Pootprint

    Anyone remember when our Captains of Industry had balls in their pants instead of balls in the President’s mouth?

  • bg

    ++

    re: #9 January 24, 2012 at 8:57 am bg

    The largest banks are actually bigger than they were when he took
    office. And earned more in the first two-and-a-half years of his term
    than they did during the entire eight years of the Bush administration.

    ==

  • #1AMERICAN

    just more illegal corrupt BS from the illegal mooslum POS so called president….

  • Patty

    George Soros Warns Of Financial Collapse, Class Warfare And The Rise Of Evil

    “At times like these, survival is the most important thing,” he says, peering through his owlish glasses and brushing wisps of gray hair off his forehead. He doesn’t just mean it’s time to protect your assets. He means it’s time to stave off disaster. As he sees it, the world faces one of the most dangerous periods of modern history—a period of “evil.” Europe is confronting a descent into chaos and conflict. In America he predicts riots on the streets that will lead to a brutal clampdown that will dramatically curtail civil liberties. The global economic system could even collapse altogether.

    Read more: http://www.businessinsider.com/george-soros-warns-of-financial-collapse-class-warfare-and-the-rise-of-evil-2012-1#ixzz1kONrwclh more @ link

    The billionaire is talking of collapse? CLASS WARFARE? Where have we heard that.

    Because of Soros we are in this disastrous time in U.S. History. Soros/Obama one in the same.

  • http://biggovernment.com gee!

    #5 bing………….republicans need to off their butts and do something about this……………….no more talkin …………..action is needed……….Buffitt is another Soros making money off the back of destuction of america……….just sayin

  • Patty

    Obama’s Clean Energy Myths Exposed
    New Ad Refutes “Facts” in Obama 2012 Energy Ad

    President Obama has released his first 2012 reelection campaign ad, and it’s a doozy, full of sexy numbers that would have you believe that Obama has figured out a way to make clean energy economically viable. The reality, however, is that Obama’s statistics grossly distort the truth, and the National Republic Trust Political Action Committee has debuted its rebuttal.

    http://officialwire.com/main.php?action=posted_news&rid=312973

    read more @ link

  • Patty

    BO is worshiped by the media tonight at 9:00 pm

    Fifty-six percent (56%) favor building the Keystone XL pipeline from Canada to Texas. By a 55% to 25% margin, voters believe building the pipeline will create more jobs than cutting payroll taxes and extending unemployment benefits.

    In Florida, it’s Gingrich 41% Romney 32%. Rasmussen Reports will release new numbers on the GOP race nationally at 2:00 p.m. Eastern today. A week ago, Gingrich had pulled to within three points of Romney nationally in a Rasmussen Reports poll that was the first to show the Gingrich surge which led to his stunning upset win in South Carolina.

    http://m.rasmussenreports.com/article.php?l=http://www.rasmussenreports.com/public_content/politics/obama_administration/daily_presidential_tracking_poll&f=http://www.rasmussenreports.com/mugorss/feed/recent

  • wlbj

    Why is anyone surprised by this. It should’t. Obama has continued to repay his “Buds” along. Where do you think he gets his money from.

    However I will say it seems to be the norm in our political system.

    Vote them all out and lets start new.

  • Old One

    Buffet says the rich should pay more taxes. At the same time his Berkshire Hathaway empire is fighting a19 nyear long legal war to evade 8 billion in corporate taxes owed the government. Then there is Immelt with his GE no taxes on billions earned & his media slave at NBC shilling & bowing for Obama. Why am I thinking nomenklatura when I hear democrat party & Ozero uttered ?

  • Patty

    City watchdog says Emanuel withholds documents

    Mayor Rahm Emanuel may find it difficult to free city hiring from federal court oversight if his legal team continues to withhold documents based on attorney-client privilege, a new report states.

    Inspector General Joseph Ferguson raised the issue Monday in a quarterly report where he stated city lawyers have invoked the privilege “in an increasing number of” investigations of potential wrongdoing.

    Some of those investigations involve efforts by Ferguson’s office to ensure city compliance with the federal court’s ban on considering politics in most personnel decisions, he wrote. The ban is part of the long-running Shakman case.

    “The withholding of such documents from the (inspector general) runs counter not only to city ordinance, but also counter to the Shakman Accord,” the report states. Without “full, unfettered access to documents and information, the city may be poorly situated to credibly claim that it has created effective procedures to identify and remedy instances of non-compliance in the Shakman realm.”

    Under Shakman, hiring is still monitored by the federal courts, nearly seven years after an FBI raid on City Hall uncovered a massive hiring-fraud scheme that marred the tenure of former Mayor Richard Daley. The inspector general was given internal city hiring oversight in 2010 amid reports from federal monitor Noelle Brennan and Ferguson that politics continued to influence city personnel decisions.

    Ferguson’s latest report comes as his office and the city Law Department are battling on the issues of subpoena power and attorney-client privilege before the Illinois Supreme Court. That case stems from the denial of documents in a five-year probe of a no-bid contract given to a onetime Daley employee.

    more @ link

    http://www.chicagotribune.com/news/local/ct-met-chicago-inspector-general-20120124,0,3003279.story

    This is The A TEAM, Obama Hold Emanuel all con men and holding offices?

  • Old One

    That should be 1o year long battle.

  • myohmy

    Of course, Warren Buffet is not an Obama supporter for nothing. Pig will always be pig, even if you put a lipstick on it.

  • Patty

    Al Gore: Obama right to reject Keystone 😆 Who knew? Who would have thought it? More favors for phony billionaires. Obama loves his money pals. But then talks about he cares about the middle classes.

    Impeach!

    http://thehill.com/blogs/e2-wire/e2-wire/206069-gore-has-obamas-back-on-keystone-pipeline

  • Soviet of Washington

    While Warren certainly benefits from transporting Bakken oil, Canadian National has a wholly owned alternative route from Alberta to Louisiana. If Harper want’s to play tit-for-tat with Obama, that’s the way to route tar sands oil.

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  • Jaimo

    Wait, transporting oil on a friggin train is safer than piping through a pipe specifically designed for that purpose? Yea, right!

  • 8675309

    WOHOOO!!! I’ve been pounding on this for months and it seemed that no one was listening. Finally this gets published. It made my day! I hope this spreads quickly.

  • J. Knight

    And guess who will be sitting by the First Lady at the State of the Union tonight? Yep…you guessed it….Mrs. Buffett.

  • Kissmygrits

    Buffet’s insurance company made out like a bandit as well. There’s too many blood suckers out there for the country to survive much longer.

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  • Mary

    #36, J. Knight…actually, Drudge Report says it’s Buffets secretary who will be next to Mooch. You know, the secretary who pays a higher tax rate than her boss…
    I won’t even be able to watch tonight for fear of my head exploding or me lobbing something through the TV screen…

  • JBD

    And just what is the BNSF safety record compared to the equally large network of pipelines, particularly crude oil pipelines, around the US?

    {^_^}

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  • jorgen

    Re. the article’s photo: I am surprised that Buffet dares to turn his back to Obozo!

  • Ipso Facto

    I made a post about a week and a half ago that described this very outcome of nixing the XL pipeline. It was certainly no secret.

    You can bet the press will never call out Obama on his blatant dishonesty about this matter.

    I find it particularly disturbing that Obama felt like he could lie to the American people in such a transparent manner with impunity. He didn’t even go to the trouble of creating a smoke screen or doing this with a few layers of buffers between himself and this preposterous lie, nor did he even wait until the smoke cleared.

    What does this say about Obama that he is effectively taunting us with this arrogant display of corruption? It’s as of he is saying in a very passive aggressive manner that it doesn’t matter how duplicitous he is. The press will never expose it and there aren’t enough votes in the Senate to affect his actions.

    Obama is really bad news. I’ve conducted business with people like him several times in my life. I refer to people like Obama as “After the Fact Specialists”. People like Obama will say nearly anything to your face, and they will even craft elaborate proposals and make very convincing presentations, however “After the Fact” everything is different. Once people like Obama close the deal, they engage in relentless conniving and deception to do whatever they want, without any regard for conducting their affairs in accordance with their prior representations.

    We saw this in Obama’s campaign speeches BEFORE he got elected. It was obviously all a front. After the Fact, he had no intentions whatsoever of following through on the promises he made. The man is simply a remorseless charlatan who uses his oratorial skills to deceive people and take advantage of people who believe his soaring rhetoric.

  • Mad Hatter

    Bloomberg has scrubbed the story. Damn, talk about protecting the Radical in Chief.

    http://www.bloomberg.com/news/2012-01-23/buffett-s-burlington-northern-among-winners-in-obama-rejection-of-pipeline.html

  • bg

    ++

    Patty #28 January 24, 2012 at 10:46 am

    that reminded me of the following:

    Judicial Watch: Obama ‘intended to leave no paper trail’

    hey, at least Rahm has records, unfortunately
    for him they’re not on Gingrich.. /sarc humor/

    New Records Obtained by Judicial Watch Show Obama White
    House Coordination with Department of Justice on Voting Rights
    Enforcement 12/19/12

    [“These documents raise fundamental questions about the politicization of the Justice Department under Eric Holder and demonstrate that the ACORN-connected Project Vote is throwing its weight around the Justice Department and driving the agency’s voting rights agenda. And evidently the Obama White House is now directly implicated in this growing scandal,” said Tom Fitton, president of Judicial Watch. “It is now clear that Project Vote and the Obama/Holder Justice Department are conspiring to file Justice Department lawsuits to help re-elect Barack Obama. This collusion between Project Vote and the Obama administration is a significant threat to the integrity of the 2012 elections. To have Project Vote involved in the Justice voting rights enforcement is like having the Mafia run the FBI.”]

    not so funny..

    and an i didn’t know about this:

    Judicial Watch Files Senate, FEC Complaints against
    Barack Obama over Questionable Mortgage Loan

    [“Americans ought to be suspicious when a United States Senator such as Barack Obama, obtains a sweetheart mortgage deal,” said Judicial Watch President Tom Fitton. “We have serious concerns that Senator Obama’s mortgage may have violated the law and Senate ethics rules.”]

    or this:

    Obama Advisor Valerie Jarrett Linked to Real Estate Scandals

    and so many other things uhg..

    ==

  • bg

    ++

    January 24, 2012

    Obama Supporter Buffett to Profit from
    Rejection of Keystone XL Pipeline

    more re: the missing link here..

    ==

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  • savethenation

    This is so shocking, I would have never thought this would happen in a million, or should I say, TRILLION, years.
    Now it’s to the point “the ONE” is just rubbing our face in it. Fed up yet?

  • Dunce

    We already have 50,000 miles of oil pipe lines in this country and we have had very few ruptures. we have over 100,000 miles of gas lines. I can remember gas pipeline two ruptures though there have been many more. Petroleum spills usually do not result in fires and also result in small environmental damage. Natural gas ruptuires often result in fires and fatalities. Many of these accidents are caused by backhoe operators . I mention these to compare with rail transport. The largest number of firefighter fatalities in our history occurred in Kingman Arizona about 15 years ago when a train caught fire that was carrying tank cars of petroleum products and about 90 men were killed in the explosion. Another problem with rail transport is what will all those tank cars haul back to the Canadian border? Currently grain is hauled from the midwest to Southern ports and fertilizer made from natural gas as feed stock is shipped back. Pipelines do not need product for reverse travel. How many times have you heard of derailments in the last few years?

  • Derek

    @ Greg (#1) today

    James Taggart gets an award from Mr. Mouch for being such a good citizen.

    This, plus that *$&@#^$ Communist Dennis Kucinich trying to limit the profits that oil companies can make. This is all getting too scary for me these days. The only thing missing is a sinister weapon that Washington turns from the outside in to “protect” us.

    In the end, it’s no like we weren’t warned.

  • Dunce

    Although pipe lines are built with union labor it takes very few workers to operate a pipe line, efficiency you know. The railroads are completely unionized and there is something else that is not common knowledge and that is that Buffet owns rail equipment producing companies. He can take revenue from shipping oil in tank cars and buy more tank cars from his other companies . Crony capitalism on the largest scale.The rail unions will be siphoning off union dues to the democrat party for as long as they exist, while the construction workers are probably at least one third republicans.

  • bg

    ++

    jorgen #42 January 24, 2012 at 1:17 pm

    oh not to worry, he also bends over, not to mention
    drops to his knees in O’s presence, so he’s safe.. /s/

    ==

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