Skip to comments.Obama helps Buffett’s railroad
Posted on 11/18/2011 8:18:39 AM PST by Mustang Driver
Crony capitalism is alive and well and occupying 1600 Pennsylvania Avenue. The latest billionaire donor to cash in on his connections to President Obama is Warren Buffett, who now joins billionaire George Solyndra Kaiser and George Petrobras Soros in cashing in on Obamas pay-to-play energy policy. Warren Buffett is about to make a pile of money off the Bakken Oil Shale in North Dakota the old-fashioned way with a monopoly worthy of
Here is how it works, President Obama put the brakes on the Keystone Pipeline, which would have delivered oil from Canada. That delay means Burlington Northern Santa Fe railroad will be shipping a lot of oil (10 times as much as it does today) not from Canada but from North Dakota American oil for American cars and plastics and Berkshire Hathaway owns 22% of said railroad and will scarf up the remainder of the company.
The spin in Washington is that President Obama is walking a thin line between his labor union bosses and environmentalists. Hogwash. Whatever he decides, unions and tree-huggers will accept. Whats their alternative? Mitt Romney?
(Excerpt) Read more at blogs.dailymail.com ...
As soon as the oil companies have a pipeline they won’t ship another barrel on the railroad, it’s too expensive.
I think you'll see another merger soon in the rail industry - BNSF merging with CSX or Norfolk Southern.
Obama makes the trains run on time.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.