Skip to comments.Billionaire Buffett's Bakken Boom (Obama's crony benifits richly the nixing of Keystone pipeline)
Posted on 01/18/2012 2:20:00 PM PST by Bigtigermike
Energy Policy: Killing the Keystone XL pipeline may help one of the world's richest men get richer. North Dakota's booming oil fields will now grow more dependent on a railroad the president's economic guru just bought.
Interestingly, another billionaire, Obama economic inspiration Warren Buffett, stands to benefit from the Keystone XL pipeline delay.
As oil production ramps up in the Bakken fields of North Dakota, plans to use the pipeline to transport it have been dashed.
As a result, North Dakota's booming oil producers will have to rely even more on the Burlington Northern Santa Fe (BNSF) railroad, which Buffett just bought, to ship it to refineries.
(Excerpt) Read more at news.investors.com ...
At least we know why he rejected it...
That’s what I’ve been saying for a long time. The railroad is shipping the oil out of here and Buffett is cleaning up on transporting the oil.
I live in Ross Nd next to McKenzie county where most of the drilling is taking place
Moving crude via rail will only be a temporary step, they will build a pipeline to Cushing, OK. Back in the the late 19th century they moved oil by rail and shortly thereafter switched to pipelines, cheaper to build the pipeline in the long run.
Thank you for writing. President Obama has heard from many Americans concerning the proposed Keystone XL Pipeline project, and we appreciate hearing from you. The President is committed to creating the most open and transparent Government in American history, and values your input. Given your interest in this matter, you may be interested in reading a recent official White House response to a petition on this issue. To learn more, please visit: www.WhiteHouse.gov/Energy. Thank you, again, for writing.
at the point of "open and transparent" , I was laughing pretty hard.
Why not build a refinery closer to the oil fields? Whatever happened to the one proposed at South Sioux City, NE?
Why not just build a pipeline to the Canadian side of Lake Michigan, build a refinery, and then ship the oil via oil tanker down the Mississippi?
That would put a lot of union longshoremen and riverboat captains to work sailing the Mississippi river.
I would think shipping by rail is more environmentally problematic than shipping by pipeline.
(muffled hysterical laughter)
A lot of folks just saw Baraq as a hard left academic.
They missed the fact he got a masters degree in “operations” from the Chicago political mob - the folks who perfected corruption.
This is another fine example.
“How fortunate for Mr Buffett, just happening to have a railroad handy at the right time like that. “
Reminiscent of George Soros donating to “Don’t Drill Here, Don’t Drill Now” organizations, while deeply, and I mean DEEPLY invested in Brazil’s Petrobras:
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