Skip to comments.COMMENTARY: An Obama-Buffett Connection Could Keep Crude Rolling by Rail
Posted on 06/19/2013 2:03:44 PM PDT by thackney
In short, Mr. Obama is about to hammer the American energy industry, and he's doing it for money.
The real elephant in the room is the Keystone XL pipeline project intended to bring Canadian oil to American Gulf Coast refineries and the resulting products onto the international market. In fact, the title of the Bloomberg article cited above includes the words "Keystone foes." Mr. Obama has already delayed Keystone, once and a final decision is coming up.
While Keystone has received a lot of press attention, there are two interrelated aspects that have not yet come to the surface.
First, as reported by the Dickinson Press in North Dakota on May 15, Lynn Helms, the director of the North Dakota Department of Mineral Resources, told the House Committee on Science, Space and Technology that if Keystone is approved, as it comes south, the pipeline would also carry up to 100,000 barrels of sweet North Dakota crude to the American refineries, in addition to the heavier Canadian product. As North Dakota's rate of production increases, the state should be producing in excess of 800,000 barrels per day by the time Keystone passes through, taking at most an eighth of North Dakota's oil production.
Second, Mr. Helms also told the House committee that the North Dakota Department of Transportation estimates moving 100,000 barrels per day by pipeline instead of its current mode of transport would result in three to six fewer traffic deaths per year and up to 150 fewer traffic injuries. Three to six doesn't sound like a lot in comparison to the U.S. national traffic fatalities, but North Dakota has a small population and every death or injury avoided is important to families and loved ones, no matter where they are.
(Excerpt) Read more at rigzone.com ...
“...a final decision is coming up.”
Yup. Just show me the money and I will show the explanation for 90% of what happens between humans. Obama’s Keystone decision was never about the environment. It was always about rewarding his billionaire friend, Jimmy Buffet...er, I mean, Warren Buffet.
As always, with Chicago Style pols,”Follow the Money!”.
Coincidence that Buffet’s bought-up railway cars and lines to carry the oil, instead of the pipeline? That’s already happening and will increase after 0traitor’s “EPA decision” to kill Keystone XL for good. 0scumbag’s prints won’t be on it; the EPA will do the work for him.
Like they say, “he who dies with the most toys wins.”
You’d think at this point in the old man’s life, he’d be thinking about eternity, not the wealth he’ll leave behind very soon.
Betcha Al oGre has bought railroad stock.
BNSF Railroad is owned by....Berkshire Hathaway.....aka Warren Buffet
Which services the area in question from Canada Border, to Texas.
What do railroads use?
Who Makes Locomotives?
Who has a special “preferred” class of GE stock....you guessed it, Warren Buffet.
What a sweet deal.
Canada has to send the US 2/3ds of all oil production....according to NAFTA
Do not know why that myth of Canada shipping oil to China keeps getting repeated
You can be sure Obama and Buffett know about the NAFTA rule on Canadian oil
Sorry to burst your bubble SC, but this is completely untrue.
Quoting from a Canadian government publication(http://www.parl.gc.ca/Content/LOP/researchpublications/prb0633-e.pdf):Article 605 of NAFTA has been interpreted by some to mean that Canada is required to sell a certain percentage of its energy output to the United States, even in the face of a severe domestic shortage. Moreover, they argue that NAFTA prevents this percentage from falling over time.
Neither of these statements is true. Canadian producers are free to sell as much oil as they wish to whomever they wish, including, for example, overseas customers. As a result, the share of total output exported to the United States can rise or fall according to the normal forces of supply and demand.
The only condition that NAFTA imposes on Canadian energy products is that all buyers in North America must have equal rights to buy those products.
So, as it turns out the "myth" of Canada shipping oil to China is not a myth. You can be sure that Obama knows Canada can ship as much oil to China as the Chinese can buy, as soon as the infrastructure is in place.
So, now that the myths have been cleared up, you have to ask yourself, why does the US president want China to have all that Canadian oil when the Canadians would be happy to sell it to the US AND build the pipeline to deliver it?