Tuesday, January 24, 2012

Buffett Profits from Keystone Pipeline Shut-Out

When oil platforms were turned out of the Gulf of Mexico, the Obama Administration was quick to seek favor with the country of Brazil ($5bil of favor) to import crude oil to the United States.  Of course that didn’t happen, because the Brazilian’s took our $5bil and then contracted with the Chinese to refine their crude oil.

Now that the Obama Administration has sided with the EPA and asked to leave the Keystone pipeline decision for after the 2012 elections, it has been ascertained that one person is positioned to potentially profit from this decision.  Warren Buffett.  Buffett’s empire has been buying into “railroads” and if the Canadian’s don’t get too peeved off at the US for shutting down the pipeline, they could likely sign-on with Buffett’s railroad to transport their oil for refining in the US or Mexico.  It would be a much more expensive venture for the Canadian’s, than a pipeline (over the long term) would be, but it is do-able. Or, the Canadian’s could choose to build a pipeline westward in Canada and export the crude oil to China.  China is knocking on Canada’s door to sign a “long term” contract with them to purchase Canadian oil for refining in China.

Only time will tell, but the big losers here are all of the jobs the creation of the Keystone pipeline would create, the immediate economic boost from energy stability for the US and the greatest benefit of all is that we retain and improve our bonds with Canada.

Time will tell and I, for one, pray that the pipeline issue continues to be made by those who understand the great benefit to the people of the United States.

YiT,  Shelly

Buffett would profit from Keystone cancellation

By Dave Boyer

The Washington Times

Tuesday, January 24, 2012 ~ Warren BuffettBuffett


Warren Buffett, whom President Obama likes to cite as a fair-minded billionaire while arguing for higher taxes on the wealthy, stands to benefit from the president’s decision to reject the Keystone XL oil pipeline permit.

Mr. Buffett’s Berkshire Hathaway Inc. owns Burlington Northern Santa Fe LLC, which is among the railroads that would transport oil produced in western Canada if the pipeline isn’t built.

“Whatever people bring to us, we’re ready to haul,” Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett’s Omaha, Neb.-based Berkshire Hathaway Inc., told Bloomberg News. If Keystone XL “doesn’t happen, we’re here to haul,” she said.

Click here to read the full story…

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