More ND oil will be railed with no US pipeline (Warren Buffet owns BNSF Railroad)

AP/Yahoo ^ | 1-20-12 | James MacPherson

[STARWISE]

Rail shipments of North Dakota crude to increase with decision to block Keystone XL pipeline

###

North Dakota oil drillers increasingly will rely on trains to move barrels of crude to market after the Obama administration's decision to reject plans for a pipeline that would run from Canada to refineries on the Gulf of Mexico, state and industry officials say.

"Pipelines are by far the safest and most economically efficient way to transport oil, but we are left with a limited number of options if pipelines are off the table," said Tony Clark, chairman of the North Dakota Public Service Commission. "Once the oil is flowing, it has to go somewhere."

[Recon Dad]

Buffett’s smart enough to know hauling crude by rail is at best a short term affair. So if he's touting the fact that his RR is hauling crude my money would be betting he's trying to unload the stock before someone announces a pipeline out of the Bakken.

[CedarDave]

I asked my financial adviser about this yesterday and he said all BNSF stock is privately held by Buffet - none is publicly traded. I bought CSX instead.

[Recon Dad]

......then he’ll be trying to sell a railroad instead of stock.

[timbo44]

Buffett also owns GEICO and makes around 40 cents profit on every dollar sent to him for premiums. And, AND, that’s why GEICO and that annoying gecko are on every radio station, every TV channel, in your junk mail, and even at the grocery store (every 15 minutes) because Buffet gets a deduction for advertising expenses, so it doesn’t matter how much he pays. In order to compete, ALL the other insurance companies must advertise on TV channels - the General, State Farm etc., because they are all making 40 cents profit even after paying for tornadoes, car accidents, floods. SO, my way of thinking is if you use GEICO, you are helping Obama. I don’t.