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Buffett’s Railroad Among Winners From Obama’s Keystone Pipeline Denial

Monday, January 23, 2012

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Warren Buffett’s Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration’s decision to reject TransCanada Corp. (TRP)’s Keystone XL oil pipeline permit.

With modest expansion, railroads can handle all new oil produced in western Canada through 2030, according to an analysis of the Keystone proposal by the U.S. State Department.

“Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Nebraska-based Berkshire Hathaway Inc. (BRK/A), said in an interview. If Keystone XL “doesn’t happen, we’re here to haul.”

The State Department denied TransCanada a permit on Jan. 18, saying there was not enough time to study the proposal by Feb. 21, a deadline Congress imposed on President Barack Obama. Calgary-based TransCanada has said it intends to re-apply with a route that avoids an environmentally sensitive region of Nebraska, something the Obama administration encouraged.

The rail option, though costlier, would lessen the environmental impact, such as a loss of wetlands and agricultural productivity, compared to the pipeline, according to the State Department analysis. Greenhouse gas emmissions, however, would be worse.

If completed, Keystone XL would deliver 700,000 barrels a day of crude from Alberta’s oil sands to refineries along the Gulf of Mexico, crossing 1,661 miles (2,673-kilometers) over Montana, South Dakota, Nebraska, Kansas, Oklahoma and Texas.

Post Continues on www.bloomberg.com

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  • Patti Patriot

    payback to one of obama’s supporters

    • daves

      Does this mean that Canada is not going to build a pipeline to the coast so they can ship to China?

    • http://verizon Ann Rand

      Daves… You tell us… You always seem to think you are in the winners circle.

    • Captain PJ

      Canada will export their oil. Whether they sell it to us or China remains to be seen–but they will sell their comodity. They will build a pipeline to the coast if the Obama administration continue to oppose a very safe and environmentally safe pipline.

    • John

      daves is a “Stool Pusher”.

    • ROSEBUD

      HOW ARE THEY GOING TO BUILD THE PIPELINE OVER THE CANADIAN ROCKIES? IF IT WERE GOING TO TEXAS THERE ARE NO MOUNTAINS ON THAT ROUTE & I READ THAT THERE ALREADY IS A PIPELINE THAT HAS HAD NO SPILLS. THIS IS A LIE, IT’S ALL ABOUT THE GREEN VOTE & WE ALL KNOW IT. IF IT HAS TO WAIT UNTIL THE ELECTION IT MAY BE TOO LATE. MAYBE WE’LL GET LUCKY & HE WILL BE GONE BY THEN. FROM MY MOUTH TO GOD’S EARS!

    • charlie9

      buffet is going to tell everybody that they should pay more go back a look at his taxes he is not worried he gets subsidised from obama an kisk backs we need to elect mpore tea party people want the whole corrupt system they have put in our congressman are not doing there job stop this with term limits we need a independent civil oversite looking at all they do to see if it is legal . only by the people

    • John Wyatt

      Does Obama’s political favoritism never stop? Why can any American vote for this poor substitute for a president?

    • Larry E

      The only possible answers to your question are abject stupidity, or they’re skimming some cream off the top. Maybe both.

    • http://patriotupdate littlepat

      Now it begins to make more sense. He didn’t stop the pipeline just for the environmental vote, although that’s nice, he just added a lot of railroad stock to his portfolio. He’s going to be a very rich man when he leaves office. Not bad for a community organizer and a bastard!

    • littlerocker

      And don’t forget the possibilty of an oil spill. I’m sure the pipeline poses a bigger threat than derailment.

    • daves

      Yes – all you have to do is google “U.S. Oil spills” and you will find how many pipeline leaks really happen in a year.

    • littlerocker

      Sarcasim, people, sarcasim.

    • jim letourneau

      didn’t the Republicans theaten tax relief plan unless Obama would approve Keystone on every news show and news paper, you that stupid, what your doing is very unpatriotic you hear a rooster when you speak, pay backs a bitch

  • http://adrianvance.blogspot.com Adrian Vance

    Buffet has shown an incredible ability to suck up in old age. Most seniors have run out of that kind of disengenuosness. (sp?)

    The Two Minute Conservative at http://adrianvance.blogspot.com for political analysis, science and humor. Daily on Kindle.

  • Larry Gallemre

    Does any decision by the Obama administration ever benefit anyone other than those who contribute to himin a financial way?

    • lucitee

      In a WORD? NO!

    • jim letourneau

      Acoustic switch, oilman Bush with Channey rules Wikipedia do fact check, and I’ll fact check who ownes what land, Chirstian, worried about Obama Ragean had a fortune teller with him, you might reread some sections of the Bibble you didn’t read.

  • Shane

    Liberals hate oil pipelines and love trains. That oil is still going to be produced, even if the pipeline is not built. Obama made a political decision that is wrong for our country, but what else is new?

    • lucitee

      He has no intention of upsetting the “apple cart” he “filled” for George “SORROWS”! He promised Brazil we would be their biggest cusotmers! NOW?? I think the “honeymoon”
      between him and Soros is pretty much down the oil well! But this bumbly, bungler doesn’t have a clue! He thinks he is STILL the biggest wheel in the Universe! And best of all, with his “hot air’, it will never go flat!

    • MH

      Too bad Brazil made a deal with China there won’t be any oil left for us. We’re screwed again just for a change.

    • MH

      He wants us all in the poor house with his skyrocketing energy costs. No oil for us and no jobs either.

  • Sonja M

    Same old DC agenda.

    You scratch my back I’ll scratch yours.

    • http://verizon Ann Rand

      Sonja… In their case, maybe something a little lower.

    • Sonja M

      Ann,

      You are most likely right but, I was trying real hard to be nice. Ha!

    • Robert DinerO

      RIGHT! SCRATCH HIS BACK , AND HE WILL STAB YOU IN YOUR’S! BY THE WAY -I DID’NT VOTE FOR HIM!

  • Robbin

    Gald to find this article here, Bloomberg has scrubbed their internet page of this report. Thus all links to Bloomberg from others hit an error page… so much for freedom of the press

  • http://www.cafepress.com/politicallyinjected Bob

    pipelines don’t derail

    • walt

      that is the real deal, Bob, the train derails the environment is recked and the government fines Buffet’s reailroad and makes even more big bucks, but gets 5000 people off unemployement to clean up the spill, d’oh

  • Mad Mike

    Buff-it is an Obama “boot licker” and suck up. By playing the game of “supporter” he gets his “bread buttered” by Obama favors which are worth billions to this dispicible old money grubbing, scoundrel.

    • lucitee

      He sucks up to the billionaires, (which he resents)to gain money for his five year Campaign funds! He sucks up to the minorities (which he ignores otherwise)for their votes! The “middle class” that he
      swears he’s “devoted” to rescueing? If he doesn’t get in the “boat” WITH you, better take a bail pail! He doesn’t really like ANY one or anything! He has a rabid craving for money and power! As long as he doesn’t have to earn it! Case in POINT: American Citizens/Taxpayers!

  • LibRep

    Jesus. Talk about pandering to the rich. I thought only Soros would benefit from the denied oil pipeline because of the Brazilian contracts, now Buffett is gonna make a few more million to give to Bill Gates’ Foundation while still crying he’s not paying more taxes. What an a$$ clown.

    • http://patriotupdate littlepat

      And Obama is going to end up with a lot of railroad stock for his retirement fund.

  • Steve

    Obama, Buffet, Soros, Corzine…..Graft is alive and well in the Obama administration and it is getting transparant.

  • Larry

    Now we know why the SOB Barrack Obama turned down the pipeline deal it was for Warren Buffet to make trillions more and the people that could have been employed it is to hell with you Warren needs more money so you are out of luck. Whatever Warren wants Warren gets along with what the Obama’s will pocket for turning down the pipe line for Warren Buffet and he will have a position on the board of Warren’s corporation.

  • Doodlebug

    Thank you to all my fellow citizens who helped make this possible by voting for this inexperienced, ideologically radical, unaccomplished shell of candidate.

    • Doodlebug

      Once again this comment has been arrested by the moderation police just because I wanted to be nice and thank the people who vote this arrogant _____ into office.

    • Doodlebug

      Isn’t it funny that the police let this one get through??

  • Eli Jones

    “BO MUST GO”

    ============================

    “Obama Selling The White House To the Highest Bidder” / “Obama’s Endless Tyrannical Executive Orders” / “The Obama & Soros’ Occupy Wallstreet Mob” / “Uganda ” / “Obama Giving Solyndra 535 Million Of Our Money”/ ” Raising The Deficit To 17 Trillion” / “America’s First Credit Downgrade” / “Obama’s Fast And Furious Criminal Operation”/ “Repeal Of DOMA” / “Repeal Of Don’t Ask, Don’t Tell” / “Obama Buying His Union Votes With Our Tax Money” / “Obama Empowering The Muslim Brotherhood And Al Qaeda” / ” Obama Swearing That He Would Side With Muslims Against Us Patriots” / ” Obama’s Hate Speech Provocations” / “Obama putting Muslim’s Rights Over All Other American’s Rights” / “Obama Ignoring North Korean Aggression” / “Obama’s Democrats Voting Against Auditing The Corrupt Federal Reserve Bank” / ” Obama Giving Brazilian & Soro’s Owned Oil Company Two Billion To Drill Off Shore With The Oil Slated To Go To China” / “Lopsided Nuke Deals” / “Obama’s Expensive & Unnecessary Trip To India” / “Obama’s Illegal Aunt Living Off Our Taxes” / “Obama Taking 500 Billion From Medicare And From Our Senior Citizens To Fund His Illegal’s On welfare”/ “Obama Having The Christian Crosses Covered Up At Notre Dame University For His Speech” / “Mosque At 9-11 Ground Zero”/ “Obama and Hillary calling in the UN to slam Arizona, 22 States & our nation’s laws”/ “Our Tax Money Being Used To Fund The Democrat Propagandist National Public Radio” / “Obamacare” / “Abortions paid for under Obamacare” / “Suing Arizona” / “Obama’s Wealth Redistribution” / “No Social Security Cost Of Living Increase For Retired Americans For Two Years”/ “Bailouts”/ “Bribes”/ “Obama’s & BP’s Mishandled Gulf Of Mexico Oil Aneurysm” / ” Cap & Trade Tax”/ “535 Billion Of Your Money Spent On Illegal’s Every Year” / “Obama’s 2.6 Trillion Amnesty” / “Economy Trashed By The Democrats” / “Democrat Voter Fraud” /” No Real Border Security Enforcement” / “Siding with the Marxist Zelaya in Honduras against the will of the people there” / “No Jobs” / “Beer Summit” / “Calling Our Returning Veterans Potential Terrorists” / “AG Holder setting the 9-11 terrorist trial just blocks from the 9-11 attack site” / “Calling Christians Potential Terrorists” / “Hands Holding Crotch During Pledge Of Allegiance” / “Rev Wright” / “Michelle” / “Massive & Reckless Spending” / “Harry Reid” / “Nancy Pelosi” / “Sestak”/”Obamacare Death Panels” / “Nationalizing Banks” / “Nationalizing US Industry” / “Obama’s Massive Stimulus Failure” /”Calling Tea Party Activist’s Racist’s” / “New Black Panther Party Thugs empowered by Obama’s AG Holder” / “Using the NAACP to spread Racist Propaganda” / “Obama’s Dept Of Justice Refusing To Prosecute Black Racist Discrimination Against White People”/ “ACORN” / “Dead People Voting As Democrats” / “Calling Terrorism A Man Made Disaster” / “Calling America a Muslim Nation” / “Obama Giving One Billion Of Your Money To The Hamas Terrorists Of Gaza”/ “Bowing to the Saudi king of Terror” / “The Obama Apology Tour” / “Obama’s Marxist Czars” / “Obama’s Muslim Czars advocating for Islamic Sharia Law in America” / “Obama mistreating our friends” / “Cap & Trade Tax” / “Obama’s Terrorist Appeasement” / “The Islamization Of NASA” / “Muslims exempted from Obamacare” / “Obama’s Mistreatment Of Israel”

    • Beth

      Amen…’wetlands…schmetlands’ it’s bogus crap to drag the environment into yet another financial grab for BO. The man is a complete fraud! Loved your comment…albeit long. How does this actually bring more jobs to Americans? I’ve always thought pipelines genius! The pipelines in Alaska have become beautiful preserves!

  • Fenigor

    Can you connect the dots?
    1. A few years back I learned that Warren Buffet decided to nest in railroads.
    2. We know that Buffet is a friend and contributor to Obama.
    3. Buffet just so happened to buy into a railroad that runs directly along the path of the proposed Keystone Pipeline route….hmmmmmm?
    4. Obama turns dwn permit to construct pipeline.
    5. Buffets Railroad offers to haul the oil
    HELLO!!

  • GDC

    Not only that Buffett expects to have his broken railroads fix with tax payers money. Then he doesn’t pay taxes. He owes about 1 billion in back taxes.

  • COUNTRYBOY

    GTHE REASON BEHIND REJECTING THE PIPE LINE IS COMMING CLEAR. OBAMA IS WILLING TO SARCFICE AMERICAN LIVES TO PAY BACK SORS.
    SENDING THE OIL BY RAIL MAY SAVE A SMALL STRIP OF THE WETLAND, BUT IT PUT AMERICAN LIVES AND PROPERTY IN DANGER ALL THE WAY FROM CANDA TO TEXAS. SMALL PRICE TO PAY TO FURTHER OBAMA CAUSE TO DWESTROY AMERICA.

  • harry

    Buffett has real shown us his true colors; yellow.. He needs to go back and read Atlas Shrugged.. Obviously, old now and maybe somewhat senile, he has lost his capitalistic tendencies and now prefers kissing the politico’s ass to gain favors. How sad.

  • MH

    How much did buffet pay for this favor? He has extra money since he didn’t pay his taxes and is fighting paying them.

  • the_punnisher

    I’ve noted in the last several months, long strings of oil and coal bearing trains ( 100+ cars ) moving north and south, east and west out of the BNSF yards DAILY. The amount of energy moving through Denver is a de-facto pipeline of energy. Suncor has been creating pollution for Sand Creek for MONTHS because the refinery has been running full blast.

    Buffet NEEDS that pipeline shut down!

  • http://PatriotUpdate Annie

    Reminds me very much of Ayn Rand’s “Atlas Shrugged”. We’re all being shrugged – “a gesture of doubt, disdain, or indifference” – by our illustrious leader.

  • tomm

    Occupy Wall Street? We need a ‘leader’ to occupy the ‘chair’ at our White House!

  • Larry Owens

    YEP, ole Big Billionaire (No Brains) buffet is Big Buddies with The Dictator in Chief of course that has NO reason for this decision? Ha. Ha….

  • walter

    This is just Obama way of paying back to his donners. He is so full of miss guided information.Where is our media on this issue. We can not get the media to call him out on anything. They still covering for his failurs. I ready to fire him and his CZars. Three years now and he has not fix anything. He can not even put together a budget. What a failer leader.

  • Richard Gibbard

    This is why the vulture capitalist Buffett should have all of his properties nationalized.

  • Buck

    Oh, I get it! Instead of 200,000 high paying jobs to Americans, lower cost oil shipment, we pay Buffet so he can give back to Obama! Too bad for those unemployed Americans!

  • Mad Mike

    Buffet is a “Obama boot licking, money grubbing, treasonus, slime ball. He and “Al Gore” should share an apartment together so they can laugh at the people they have “conned” and all the government money they have stolen in their “sting operations”.

  • Larry

    Now the truth comes out for the reason Obama stopped the pipe line from happening him and Warren Buffet made a deal of some king that Warren would use his trains to transport the oil.Warren has told Obama he will have a position on his Board that will put Millions of dollars in his pocket when he is out of office. This has to be why Warren has let Obama use him for the tax increase on the rich. This jest goes to show that Barrack Obama will stoop to anything and I mean anything to get what he wants this piece of chicken crap we have for a President is nothing but a piece of chicken crap.

  • roy

    The canadians have the plans for going THROUGH the mountains to the west directly to the west coast and China. It is a big pipeline too-in diameter. It is shovel ready. The oil is going to someone if not us.

  • Keith j

    Enough is enough. America: aren’t you fed up with the political shenanigans of this White House yet?

  • http://pjtv.com skip gainer

    What a bunch of snakes we have in our white house. Where are the environmentalist screaming about shipping this oil by rail. It is definitely more hazardous and costly to ship the oil by rail then through a pipeline. At least now we know why obarry boy is screwing the people over on the pipeline issue so his poor 99%ter Buffet. Who wants to make more money to pay obarry boy more tax money! NOT!

  • Washington22

    The Canadians are smart people. The’re waiting until America’s next election to make the deal with a Republican President. For sure we’ll do business………….

  • jorland428

    The pipeline will create thousands of jobs and reduce the price of fuel. Cheaper fuel will reduce the cost of everything that relies on it.
    This will be a real boost for the US economy with a big spike up in this administrations approval rating.
    Obama will approve the pipeline. He will time it for the most impact, not before.

  • ActualConundrum

    Any way to screw over the American people and Obama is on-board.