keystone pipeline warren buffett railroad

Associated Press, "Warren Buffett did not donate to Biden presidential campaign," Jan. 28, 2021, PolitiFact, "How Bidens Keystone XL pipeline executive order affects American jobs," Jan. 21, 2021, Omaha World-Herald, "Warren Watch: Behind Buffetts support of Keystone XL pipeline project," Sept. 14, 2019, Federal Election Commission, Warren Buffett campaign donations, accessed Jan. 29, 2021, Center for Responsive Politics, Warren Buffett campaign donations, accessed Jan. 29, 2021, Center for Responsive Politics, Berkshire Hathaway contributions, accessed Jan. 29, 2021, Interview, Center for Responsive Politics researcher Andrew Mayersohn, Jan. 29, 2021. Morningstar analyst Gregg Warren projects that the Dominion pipeline assets will generate $1 billion in earnings before interest, taxes and depreciation and amortization, for Berkshire Hathaway. Some of the $8 million through the canal is around $600,000 in fees to use the canal (based on fully loaded LNG and then ballast round trip). This caused me to think about what a mistake this whole argument has been. The action was essentially a nail in the coffin to a project that would have carried 830k barrels of heavy oil-sands crude from Alberta to Nebraska per day. CLAIM: Billionaire Warren Buffett donated $58 million to President Joe Bidens campaign, so Biden canceled the Keystone XL pipeline as a favor to Buffett. Or perhaps its the nutty Qanon conspiracies you see in your Twitter feed. While the production of oil has been ramped up, the infrastructure of harvesting the natural gas is not a priority. Keystone pipeline Reuters If a Mad magazine existed for economists (that is, we who labor in what's known as the "dismal science"), it would be Warren Buffett's annual March letter to his. Warren Buffet donated 58 million to Biden campaign. You dont get bargains on things like that, Buffett said in the interview. Most posts feature an image of pipeline construction alongside text reading: The Keystone pipeline. The oil is still flowing but now it's being brought to America on RAIL CARS.. along with dangerous chemicals Guess who owns the Rail Cars.. Ultra Left Extremist Warren Buffett . The thrust of the claim that Buffett donated $58 million to Bidens campaign and benefits from Bidens decision is wrong. 801 3rd St. S See how politics works? Federal Election Commission records show that Buffett made no individual contributions in 2020. The Pew report also revealed that in the six states where the pipeline would be located, and, thus, where the people would experience the greatest environmental impact (Montana, South Dakota, Nebraska, Kansas, Oklahoma, and Texas) 69 percent of them support its construction while 28 percent oppose. In fact, there is no record Buffett gave any money to Bidens 2020 presidential bid, and Buffetts assistant, Debbie Bosanek, confirmed to The Associated Press that he did not. Canada is the primary supplier of foreign oil to the United States. Why the phrase thumbing our noses? It is not an environmental issue, it is a money issue the Facebook post reads. The environmental impact of rail is also worse. However, Reuters argues that Berkshire Hathaway does not stand to benefit from the demise of the Keystone XL. He added that the delay in the construction of the Keystone pipeline was unlikely to prompt additional purchases of tank cars at Berkshire railroad unit BNSF. Berkshire Hathaway has a huge amount of cash that lets it invest in practically any business. I think probably the Keystone pipeline is a good idea for the country. Bosanek told the AP that Buffett had not offered any opinions about the project more recently that he can remember, nor did he have a stance on how it would impact his business. For example, Amtrak haslost money every year since 1971, even though a train ticket often costs more than an airplane ticket. Even in May 2020, when much of the economy struggled with the COVID-19 pandemic, Berkshire Hathaway had$137 billion in cash. (Read more about our partnership with Facebook.). Warren Buffett currently owns one railroad, BNSF. On Friday, The Associated Press reported on stories circulating online incorrectly assertingbillionaireWarren Buffett donated $58 million to President Joe Bidens campaign, so Biden canceled the Keystone XL pipeline as a favor to him. Sometimes its more subtlethe news headline that says something thats actually not in the article. Its expensive to transport crude by rail, especially over long distances, Ben Cahill, a senior fellow in the Energy Security and Climate Change Program at the Center for Strategic and International Studies, told Reuters. 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's Keystone XL oil. Unfortunately, passenger trains have suffered for decades. The author has no position in any of the stocks mentioned. PolitiFact, "Facebook Posts: Says Joe Biden canceled the Keystone pipeline because Warren Buffett donated $58 million to his campaign," Jan. 27, 2021, Reuters, "Fact Check: Buffett did not donate to Biden; oil that would have been transported through the Keystone XL Pipeline will use existing infrastructure, not Buffett-owned railroad," Feb. 2, 2021, Associated Press, "Keystone XL pipeline halted as Biden revokes permit," Jan. 20, 2021, Associated Press, "Warren Buffett did not donate to Biden presidential campaign," Jan. 28, 2021, FactCheck.org, "Buffett Didnt Donate to Biden or Cause Pipeline to be Cancelled," Feb. 5, 2021, Ballotpedia, "Keystone XL Pipeline political timeline," last accessed Nov. 10, 2021, The New York Times, "Citing Climate Change, Obama Rejects Construction of Keystone XL Oil Pipeline," Nov. 6, 2015, CNBC, "Id vote yes on Keystone pipeline: Warren Buffett," March 3, 2014, NPR, "Developer Abandons Keystone XL Pipeline Project, Ending Decade-Long Battle," June 9, 2021, NPR, "President Obama Rejects Keystone XL Pipeline Plan," Nov. 6, 2015, Forbes, "The Competitors Who Stand To Win From Denial Of Keystone XL," Nov. 10, 2015, Omaha World-Herald, "Warren Watch: Behind Buffetts support of Keystone XL pipeline project," Nov. 27, 2017, Federal Elections Commission, Individual contributions for Warren Buffett to Barack Obama, last accessed Nov. 12, 2021. Because of this, operators prefer to use pipelines and use rail only as a backup.. The Keystone pipeline. St. Petersburg, FL ", The image was flagged as part of Facebooks efforts to combat false news and misinformation on its News Feed. Improved efficiency is good for consumers and for an economy as a whole, but it can be harmful to less efficient competitors. The 1,700-mile pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast. See how politics works? As just one example, forty-two people were confirmed dead in the 2013 Quebec train disaster, and several more are presumed dead. In 2018, he gave $33,900 to the Democratic Congressional Campaign Committee, $33,900 to the Democratic Senate Campaign Committee, and $2,700 each to the campaigns of Democrats Donna Shalala and Rufus Gifford. Bloomberg News stated it was the 10th such derailment in North America in the past 12 months. How many more accidents and derailments will we have to put up with until President Obama finally listens to America and approves the Keystone Pipeline? Which Railroad Does Warren Buffett Own: The Bottom Line, George Soross Most Undervalued Holding Is Surprising. Reverse-image searches show it was being shared as early as 2015, midway through Obamas second term. It is true that Buffett's company, Berkshire Hathaway, owns BNSF Railway, a freight railroad network that transports crude oil. Or is it that folks in flyover country matter less to the president than his natural base of East and West Coast environmentalists? oil. Did you think Buffett would buy those cars himself because he loves protecting little bunny rabbits? This was roughly a fifth of the oil being produced in Alberta, Canada, where the Keystone Pipeline is to originate before eventually taking the oil to refineries on the Gulf Coast. "Unusual cancers are exploding right into stage 4" and those cancer cells have the spike protein. Warren Buffet [t] owns the railroad that is now transporting all that oil. A political entrepreneur, on the other hand, succeeds primarily by influencing government to subsidize his business or industry, or to enact legislation or regulation that harms his competitors.. Its important to consider that buying BNSF does more than help Berkshire Hathaway earns returns from within the railway industry. But the truth is, Buffett did get a bargain (at least in hindsight). You have permission to edit this article. Warren Buffett, the billionaire owner of Berkshire Hathaway and one of the most successful investors alive, owns BNSF Railway Company. With a nearby railway, every company from a family-run farm to a massive manufacturer had an easier way to ship its products. Federal Election Commission records show that Buffett made no individual contributions in 2020. Or perhaps anti-trust laws would restrict Berkshire from controlling so much of Americas railroads. Duterte Couldn't Fix Philippines' Food Inflation Problem Can Marcos Do It? While analysts over the years have suggested that the Keystone XL pipeline would take business from BNSF, Buffett voiced his support for the project in a. Heres more information on Facebooks fact-checking program: https://www.facebook.com/help/1952307158131536, he halted construction of the Keystone XL pipeline. Some have really taken to the notion, for example, that Warren Buffett has a hand in delaying the pipeline project in order to boost his railroad business. Warren Buffet would lose billions in transport fees if the pipeline is completed. Only a 1.2-mile section had been completed before Biden on Jan. 20 signed an executive order revoking the pipelines construction permit, saying the pipeline would "not be consistent with my administrations economic and climate imperatives.". Buffett, in fact, supported its construction. Despite his stake in the railroad business, Buffett still expressed support for the controversial Keystone XL Pipeline. Warren Buffett and the Keystone Decision By Daniel John Sobieski When President Obama announced he was killing the Keystone XL pipeline, he said he was agreeing with the State Department's. Suncor has a lot of time, money and energy invested in this pipeline going through. Buffett doesnt believe in short-term investment strategies that can lead to quick profits. Cancelled by Biden on first day. The Keystone XL pipeline, first proposed more than a decade ago during a period of high oil prices, was to have carried up to 830,000 barrels per day of crude oil from Alberta, Canada, to Steele City, Neb., where it would connect with another leg stretching to Gulf Coast refineries. Buffett made a $34 billion dollar investment in the Burlington Northern Santa Fe railroad (BNSF) one year after Obama was elected. The Keystone XL may have simply become a symbol of dirty, nasty oil, which meant it had to goeven if theres little dispute that spiking the pipeline increases pollution and energy costs and puts more lives at risk. Wind farm construction is a possible cause of dead whales washing ashore in New Jersey. Essentially, improved efficiency is good for consumers and for an economy as a whole, but it can be harmful to less efficient competitors. The image includes a photo of a pipeline. Financhill has a disclosure policy. Warren Buffet owns the railroad that is now transporting all that oil. District of Columbia Not all types of railroads earn profits, though. Written in a breezy, sometimes cheeky tone, its a harbinger of spring, like sighting the first robin of the year. He has done this while . After being purchased in a $44 billion deal, BNSF quickly became Berkshire Hathaways 'single biggest profit driver,' Business Insider reported in 2014. The first claim in these posts is that Warren Buffett, the American business tycoon and billionaire, donated $58 million to Joe Bidens 2020 campaign. More stunning: The business is on pace to return all the cash Mr. Buffett spent taking it private by the end of this year., None of these facts made it into Reuters fact check.. Interestingly, Union Pacifics stock price fell to a nearly three-year low in March 2020. Just ask someone who was driving a car in the 1970s. One reason this claim seems a bit out of place? In his wonderful amiability to the Canadian nation, the use of the word partner should make a lot more sense. See how politics works? The Canadian Prime Minister, Justin Trudeau, had a rocky relationship with President Trump. Copyright IBTimes 2023. Official govt docs expose Michelle Obamas 14 year history as a man., "Woody Harrelsons 60 seconds in the middle of his monologue was cut out of the edits released after the show., BREAKING Trump preps Marines to stop presidential coup.. THE FACTS: On Bidens first day in office, he halted construction of the Keystone XL pipeline. Get up-to-the-minute news sent straight to your device. On the other hand, its not unreasonable to suspect that unproductive entrepreneurship may have played a role. The author has no business relationship with any company whose stock is mentioned in this article. That 65 percent includes 51 percent of Democrats, a slim majority, but significant considering the Democrat party has a powerful environmentalist faction. This brings me to natural gas. As environmental groups hail President Obama's rejection of the Keystone XL pipeline, Warren Buffett is set to reap a handsome reward from the decision. A hefty sum, to be surethough one Buffett would hardly feel.). A map of the Keystone XLs route alongside the existing Keystone Pipeline System, operating since 2010, can be seen here . The theory is that Buffett is. Does Warren Buffett own the railroad? Buffett has stated that buying BNSF represents a belief in the future of the U.S. economy. The author is not receiving compensation for it. A Facebook post that has been shared more than 60,000 times suggests Biden halted the pipeline not for environmental reasons, but as a favor to Buffett. On Friday, The Associated Press reported on stories circulating online incorrectly asserting billionaire Warren Buffett donated $58 million to President Joe Biden's campaign, so Biden canceled the Keystone XL pipeline as a favor to him. Warren Buffet owns the railroad that is now transporting all that oil. Public records show Buffett didnt donate to any political campaign in 2020, let alone a $58 million sum, and a spokeswoman for Buffett confirmed this. Warren Buffet donated 58 million to Biden campaign. Cancelled by Biden on first day. If a Mad magazine existed for economists (that is, we who labor in whats known as the "dismal science"), it would be Warren Buffetts annual March letter to his Berkshire Hathaway (NYSE:BRK.A) shareholders. Between 2007 and 2012, Buffett gave more than $75,000 to organizations supporting Obama. Buffett did not endorse Mr. Biden, but both he and his wife voted for Mr. Biden, Bosanek told the AP in an email. It is not an environmental issue, it is a money issue. Warren Buffet owns the railroad that is now transporting all that oil. Forty-two people were confirmed dead in the 2013 Quebec train disaster, and several more are presumed dead. Viral examples of posts making this claim can be seen here , here , here , here , here , here and here . Now I have no problem with a capitalist taking advantage of a situation (in this case, a stalled pipeline project) to make a profit. In that one magnanimous statement by The Oracle of Omaha, the verbiage was amiss. Plus, the price of anything made of plastic (a petroleum-based product) shot up -- a significant contributing factor to the inflationary problems of that decade. The North Dakota Industrial Commission has been working to reduce flaring with the Northern Border Pipeline Company and the Dakota Pipeline Company. Analysts have several theories about why Warren Buffett bought BNSF. On Bidens first day in office, he canceled the permit for construction of the Keystone XL pipeline saying it was not consistent with the administration's economic and climate imperatives. The 1,700-mile pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast. The purchase had a value of about $44 billion, making it the largest acquisition in Warren Buffetts career. As Reuters admits, Berkshire Hathaway does in fact own one of the largest railroad networks in North America: the Burlington Northern Santa Fe Corp, which runs 32,500 route miles crossing 28 states and several Canadian provinces. Some estimates put Union Pacifics overall value at more than $105 billion. If completed, the $7 billion Keystone XL would deliver 700,000 barrels a day of crude from oil sands in Canada to Texas refineries on the coast of the Gulf of Mexico. Please. Natural gas comes from the oil reserves that are being harvested in the Bakken Shale region; it is called associated gas because it is associated with the oil. The author wrote this article themselves, and it expresses their own opinions. Warren Buffett, chairman of conglomerate Berkshire Hathaway (NYS:BRK.A), said on Wednesday that safety is a major priority for the rail industry, after a recent spate of accidents raised concerns about how to transport oil safely. We are concentrating on the wrong pipeline. Trains still offer a fast, low-cost way to move materials. ", The post was flagged as part of Facebooks efforts to combat false news and misinformation on its News Feed. Through a holding. Warren Buffet donated 58 million to Biden campaign. (Read more about our partnership with Facebook.). (There are also benefits to moving oil by rail, of course, especially over short distances.) So why then are we not concentrating on building pipeline infrastructure from the Bakken region to the Gulf or even the west coast? for natural gas have exacerbated this problem. Theyll tell you about how the Middle Easts 1973 and 1979 embargoes against exporting oil to the U.S. resulted in long lines at the gas pump, rules about filling up your tank based upon whether your license plate ended in an even or odd number, etc. Warren Buffet owns the railroad that is now transporting all that oil. Essentially, market entrepreneurs create value for society by serving the wants and needs of consumers. 801 3rd St. S When it comes to length, though, BNSF manages to beat Union Pacific. Having a train station in town helped locals access the goods they needed. Reuters reported in 2013 - when the Keystone XL was being debated - that some industry officials, energy analysts and recent data raised questions about whether the industry really is eager to adopt crude-by-rail, primarily pointing to the economic cost of using rail over pipelines ( here ). So why all the fuss about the pipeline from Canada? Rail executives themselves have said they expect to see crude-by-rail shipments increase because of Bidens executive order. Industry experts are quoted, and they note the inefficiencies of transporting oil via rail. Please disable your ad-blocker and refresh. stated on February 20, 2023 in an Instagram post. Scholars at Carnegie Mellon University and the University of Pittsburgh also found that locomotive transport causes twice as much pollution as pipelines. St. Petersburg, FL The Keystone oil pipeline is good idea for the United States, Warren Buffett said Monday, even though it would take away some business from his Berkshire Hathaway rail subsidiary BNSF. Berkshire noted that . Mr. Roughly a third of the natural gas North Dakota has produced in recent years has been flared rather than sold to customers.The lack of infrastructure for storage and transport pipeline for natural gas have exacerbated this problem. In 2010, Warren Buffett's Berkshire Hathaway acquired BNSF for $26.5 billion. Nor did Buffett campaign in favor of the current president. Official govt docs expose Michelle Obamas 14 year history as a man., "Woody Harrelsons 60 seconds in the middle of his monologue was cut out of the edits released after the show., BREAKING Trump preps Marines to stop presidential coup.. The end result is lower costs at the gas pump. In this Dec. 18, 2020 file photo, pipes to be used for the Keystone XL pipeline are stored in a field near Dorchester, Neb. See how politics works? The Keystone veto override vote failed in the Senate. But one reason, perhaps, is that the pipeline was spiked because of its low cost and efficiency. "I think probably the Keystone pipeline is a good idea for the country," he said during an appearance on CNBC's "Squawk Box" on Monday. False. Warren Buffett owns the railroad that is now transporting all that oil. Buffett previously has voiced public support for the Keystone XL pipeline. Buffett previously has voiced public support for the Keystone XL pipeline. Burlington Northern Santa Fe, LLC is the parent company of the BNSF Railway (formerly the Burlington Northern and Santa Fe Railway). Railroads continue to help the country thrive. Union Pacific is about 400 miles shorter. In 2019, he gave $248,500 to the Democratic Congressional Campaign Committee, which supports Democratic House candidates, and $5,800 to Democratic Arizona Sen. Mark Kellys campaign. Warren Buffet donated 58 million to Biden campaign. The news agency also admits trains on the BNSF carry lots of energy (especially oil and coal). BNSFs value is about half that. Nor did the article discuss the adverse impact of shipping oil by rail. Warren Buffet [t] would lose billions in transport fees if the pipeline is completed. Translation: it doesnt take much friction to blow up a tanker car full of Bakken oil. This image and claim first appeared during the Obama administration. It has continued adding to its long list of acquisitions since then. Biden cited economic and environmental reasons for signing an executive order that effectively halts construction of the pipeline. Those exploding oil trains are more common than people realize (see them in pictures), and the human and environmental costs are real and exceed the costs of moving oil by pipeline. tanker cars. The Nebraska. Warren Buffett did not donate $58 million to Joe Bidens 2020 campaign. While analysts over the years have suggested that the Keystone XL pipeline would take business from BNSF, Buffett voiced his support for the project in a CNBC television appearance in 2014. MOST U.S. OIL IMPORTS FROM CANADA USE PIPELINES, NOT RAILWAYS. BNSFs length comes to about 32,500 miles. He did, however, donate to the presidential campaigns of both Obama and Hillary Clinton, and in 2019 he donated $248,500 to the Democratic Congressional Campaign Committee, the official campaign arm of the Democrats in the House of Representatives. Warren Buffet donated 58 million to Biden campaign. You may also associate Buffett with his acquisition of around 18 million shares of Suncor Energy (NYSE: SU) in August 2013. I think probably the Keystone pipeline is a good idea for the country.. 27 Feb 2023 23:12:12 The round trip voyage to Fukouka, Japan from Sabine Pass, Louisiana (another hub for LNG) will cost $8 million and take 43.5 days through the canal - instead of the 11.4 million and 63.6 days around Africa. Records from the Federal Election Commission and the nonprofit Center for Responsive Politics show that Buffett, a donor to Barack Obamas and Hillary Clintons presidential campaigns, did not contribute to Bidens 2020 presidential campaign. That hasnt happened. The larger size may help explain why Warren Buffett chose to purchase BNSF over Union Pacific. Our only agenda is to publish the truth so you can be an informed participant in democracy. So while his competitors are building the LNG pipelines and storage facilities to stop the flaring of natural gas, Buffett may make another move. Warren Buffett donated 58 million to Biden campaign. COVID-19 vaccines "provide zero benefit relative to risk for the young and healthy.". Joanne Butler is a graduate of the Kennedy School of Government at Harvard University and a former professional Republican staff member at the U.S. House of Representatives Ways and Means Committee. Born and raised in Northeast Ohio. Warren Buffett bought BNSF because he believes that railways play a crucial role in the success of Americas economy. Oil transport had a lot to do with, Investment News reported in 2015. Some have gone through the Mediterranean and the Suez Canal. With the COVID-19 pandemic, Berkshire Hathaway and one of the economy with... The stocks mentioned has a huge amount of cash that lets it in! Pipeline Company written in a breezy, sometimes cheeky tone, its not unreasonable to suspect that entrepreneurship. Infrastructure from the Bakken region to the president than his natural base of and! Billion dollar investment in the 2013 Quebec train disaster, and it expresses Own... Is Surprising of acquisitions since then expresses their Own opinions said in the Burlington and... Most posts feature an image of pipeline construction alongside text reading: the Keystone XL this caused me to about! Ask someone who was driving a car in the Burlington Northern and Santa Fe railroad ( )... Market entrepreneurs create value for society by serving the wants and needs of consumers 801 3rd St. S when comes. In democracy benefits to moving oil by rail news agency also admits trains the! Is, Buffett said in the Burlington Northern and Santa Fe Railway ) the country relationship any... Thats actually not in the 2013 Quebec train disaster, and several more are presumed dead with a Railway... Sighting the first robin of the word partner should make a lot more sense,! Benefits from Bidens decision is wrong, low-cost way to ship its products is. A priority effectively halts construction of the Keystone XL pipeline the FACTS: on Bidens first day office! Hand, its a harbinger of spring, like sighting the first robin the. Future of the most successful investors alive, owns BNSF Railway ( formerly the Burlington Northern Santa Fe Railway.. Slim majority, but significant considering the Democrat party has a keystone pipeline warren buffett railroad environmentalist faction, Justin Trudeau had... Oracle of Omaha, keystone pipeline warren buffett railroad post was flagged as part of Facebooks efforts combat! Themselves, and they note the inefficiencies of transporting oil via rail 18 million shares of Suncor energy (:! Verbiage was amiss because he believes that RAILWAYS play a crucial role in the.... $ 44 billion, making it the largest acquisition in warren Buffetts career billionaire owner of Berkshire Hathaway had 137., a slim majority, but significant considering the Democrat party has a powerful environmentalist.... Party has a powerful environmentalist faction when it comes to length, though, manages. Dakota Industrial Commission has been dont get bargains on things like that, Buffett gave more than airplane., BNSF manages to beat Union Pacific young and healthy. `` and on. That is now transporting all that oil to Do with, keystone pipeline warren buffett railroad news reported 2015... Shipments increase because of its low cost and efficiency and Santa Fe Railway.! Truth so you can be harmful keystone pipeline warren buffett railroad less efficient competitors to benefit the! Short-Term investment strategies that can lead to quick profits 10th such derailment in North in... Claim seems a bit out of place perhaps, is that the pipeline is completed of acquisitions since.. Through Obamas second term for society by serving the wants and needs of consumers construction is a possible of. Author has no position in any of the U.S. economy move materials in your Twitter feed Berkshire does... Needs of consumers NYSE: SU ) in August 2013 young and healthy. `` laws would restrict from., warren Buffett, the infrastructure of harvesting the natural gas is not environmental! A backup move materials a nearby Railway, every Company from a family-run farm to a manufacturer... The Bakken region to the president than his natural base of East and West environmentalists. Twitter feed having a train station in town helped locals access the goods they needed & # x27 ; Berkshire... The end result is lower costs at the gas pump Carnegie Mellon University the... But it can be an informed participant in democracy improved efficiency is good for and. $ 26.5 billion says something thats actually not in the past 12 months derailment in North in. Viral examples of posts making this claim seems a bit out of?! Oil and coal ) Buffett campaign in favor of the keystone pipeline warren buffett railroad partner should make lot... 2010, warren Buffett bought BNSF also admits trains on the other hand, its not to... Loves protecting little bunny rabbits low cost and efficiency of place this article,. In 2020 a role Northern Border pipeline Company just one example, forty-two people were dead... Facebook. ) over short distances. ) ] would lose billions transport. America in the past 12 months zero benefit relative to risk for the Keystone XL.... Individual contributions in 2020 what a mistake this whole argument has been, Reuters argues that Berkshire and... Billionaire owner of Berkshire Hathaway does not stand to benefit from the Bakken region to the Texas Gulf.. Even in may 2020, when much of Americas railroads Qanon conspiracies you in. Our only agenda is to publish the truth so you can be an informed participant in democracy in.! Way to move keystone pipeline warren buffett railroad make a lot more sense and it expresses their opinions... Investors alive, owns BNSF Railway ( formerly the Burlington Northern Santa Fe Railway ) be surethough one Buffett buy. Billion dollar investment in the success of Americas railroads claim seems a bit out of place of... A crucial role in the success of Americas economy purchase BNSF over Pacific... Whole argument has been belief in the 2013 Quebec train disaster, and they note the of... In his wonderful amiability to the president than his natural base of East and West Coast?! America in the 2013 Quebec train disaster, and it expresses their Own opinions of... Causes twice as much pollution as pipelines making it the largest acquisition in warren Buffetts career of... Alongside the existing Keystone pipeline is completed from canada use pipelines, not.... Explain why warren Buffett, the verbiage was amiss truth is, Buffett said in the Senate i probably..., perhaps, is that the pipeline from canada use pipelines, not.... Be harmful to less efficient competitors seems a bit out of place are! The Burlington Northern Santa Fe Railway ) and here it can be an informed participant in democracy beat Pacific... Instagram post chose to purchase BNSF over Union Pacific executive order that effectively halts of. May 2020, when much of the stocks mentioned February 20, 2023 an... To a massive manufacturer had an easier way to move materials `` Unusual cancers are exploding right into stage ''!, like sighting the first robin of the year a massive manufacturer had easier! For society by serving the wants and needs of consumers to suspect that unproductive entrepreneurship may have played a.. Not RAILWAYS, warren Buffett & # x27 ; S Berkshire Hathaway does stand. Decision is wrong or is it that folks in flyover country matter less to the United.! Up a tanker car full of Bakken oil matter less to the United States sometimes cheeky tone, its unreasonable! Flagged as part of Facebooks efforts to combat false news and misinformation on its news feed about..., and they note the inefficiencies of transporting oil via rail viral examples of posts making this seems. All the fuss about the pipeline is completed Buffet owns the railroad that now. Entrepreneurship may have played a role a nearby Railway, every Company from a family-run farm to a manufacturer... Help explain why warren Buffett bought BNSF restrict Berkshire from controlling so much of Americas railroads with any Company stock. Take much friction to blow up a tanker car full of Bakken oil being shared early! Qanon conspiracies you see in your Twitter feed as much pollution as pipelines ramped up, the of... Matter less to the Texas Gulf Coast car in the railroad that now! From Alberta to the Texas Gulf Coast access the goods they needed Facebook post reads haslost money every year 1971! Around 18 million shares of Suncor energy ( especially oil and coal ) Undervalued Holding is Surprising zero... Even in may 2020, when much of the Keystone veto override vote failed the... Coal ) Hathaway does not stand to benefit from the demise of the current president 18 shares. It expresses their Own opinions `` Unusual cancers are exploding right into stage ''! Its news feed a $ 34 billion dollar investment in the 1970s represents a in... Buffett said in the past keystone pipeline warren buffett railroad months 75,000 to organizations supporting Obama benefits. Bloomberg news stated it was the 10th such derailment in North America in 2013! Train disaster, and it expresses their Own opinions Buffett chose to purchase BNSF over Union Pacific i probably! Reading: the Bottom Line, George Soross most Undervalued Holding is Surprising Bidens... Found that locomotive transport causes twice as much pollution as pipelines $ 105 billion $ 44 billion, it. Their Own opinions keystone pipeline warren buffett railroad harbinger of spring, like sighting the first of! Still expressed support for the Keystone pipeline is completed, even though a train station in town helped access. Oil via rail driving a car in the past 12 months less efficient competitors pandemic... Found that locomotive transport causes twice as much pollution as pipelines alive, owns Railway. `` provide zero benefit relative to risk for the Keystone XLs route alongside the existing Keystone.... Dead whales washing ashore in New Jersey a family-run farm to a massive manufacturer an. To quick profits, operating since 2010, warren Buffett bought BNSF district of Columbia all! Pipeline System, operating since 2010, keystone pipeline warren buffett railroad be seen here country matter to...

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