Skip to comments.Warren Buffett, the Keystone Pipeline, and Crony Capitalism
Posted on 10/06/2011 5:41:53 AM PDT by radioone
A decades-long crusade by the environmental left to convince us that oil is evil, unsustainable, and destroying our planet has yet to accomplish its goal of eliminating oil as a fuel, but it has succeeded in making oil damned expensive. However, new technologies for the extraction and transport of previously unrecoverable oil promise to reverse that trend.
One such project is the TransCanada Keystone XL pipeline, which will transport bitumen from the oil sands of Alberta to the refineries and ports along the Gulf coast. It will also feature a spur that will pick up oil from the vast Bakken oil formation in North Dakota. The benefit to our economy and energy security is obvious.
(Excerpt) Read more at americanthinker.com ...
The same environmentalist whackos are trying to block the building a new oil refinery in southeastern South Dakota. This would be the first new refinery built in the US in 30 years, would bring more than 4,500 new jobs to the area and would be the second largest construction project in US history.
I haven’t heard much about the SD refinery project lately.
Is land still being acquired for this thing?
Warren thinks he can llive forever. I see Obama and him splitting ways pretty soon.
Yep, that’s because we’ve got to be liberal. We’re supposed to be against fossil fuels, which means that we have to phase out fossil fuels so we can all have windmills and solar and all that.
We’re supposed to go buy a $40,000 Chevy Volt to prove how enviro caring we are. We’re supposed to install solar panels. We’re supposed to take our own canvas bags to the grocery store. We’re supposed to recycle.
I always lose track of everything we’re supposed to do to be environmentally aware.
"Why pay $35/hour here when you can pay a barefoot slave $35/week in new giant uber refinery's in India et. al.?"
Refined product will be coming like tidal waves to enter the pipeline grid from every port.
The existing refineries will be maintained as tank farms and distribution centers run by low paid contract workers.
A year after the election of Obama, Warren Buffett bought a giant railroad, the Burlington Northern Santa Fe. The BNSF has more than 32,000 miles of track and right-of-way in this nation, running from the west coast and through the agricultural heartland of America. It is also hauls coal from the mines in Montana and Wyoming and is the railroad with the best existing north-south infrastructure. In fact, it's quite well-situated to perform precisely the task for which TransCanada has proposed to build a pipeline.
Should the pipeline fail, the oil will still be extracted, but it will then be transported by rail, and Mr. Buffett, thanks to the efforts of his friend Mr. Holland, will be uniquely situated to derive a fortune from that business, as well as enhance the value of his holdings in Conoco-Phillips petroleum. Is it possible that Warren Buffett's assistance to Obama in both policy and public relations lately may be his way of trying to tip the regulatory scales in his favor? After all, nothing says "I love you" to a Democrat better than a public plea for more taxes.
You had to read way to the end to find this gem.