Then I read this....Warren Buffett cleans up after Keystone XL
The Sage of Omaha is one lucky guy.
by John Hayward 01/24/2012
Amusingly, a spokesman for the Sierra Club admitted “there is no question that [transporting] oil by rail or truck is much more dangerous than a pipeline,” but that didn’t stop the zero-growth eco-fanatics from calling in their chips with President Downgrade to kill that pipeline.
Those rail shipments are expected to “increase exponentially with increased oil production and the shortage of pipelines,” according to Justin Kringstad, director of the North Dakota Pipeline Authority. That’s going to be quite a windfall for the railroad companies, isn’t it?
As it happens, 75 percent of the oil currently shipped by rail out of North Dakota is handled by Burlington Northern Santa Fe LLC… which just happens to be a unit of Warren Buffett’s company, Berkshire Hathaway Inc. What a coincidence!
Warren Buffet Cleans Up After Keystone XL - HUMAN EVENTS
What environmental groups? Even the spoksman for the Sierra Club admits that transporting oil by rail or truck is much more dangerous than by pipeline. Was it caving to environmental groups or his big business buddy Warren Buffett?Caving to pressure from environmental groups, the Obama administration on Wednesday rejected the $7 billion-plus Keystone XL pipeline which would have carried 700,000 barrels of crude oil a day from the Alberta oil sands to refineries along the US Gulf coast.
No Keystone XL means Canadian crude will stay dirt cheap - MINING.com
The Keystone pipeline was to carry 700,000 barrels of oil a day. A barrel of oil is 42 gallons. The average rail tank car carries about 30,000 gallons. 700,000 X 42 = 29,400,000 gallons of oil now dvide that by 30,000 and you get 980 oil tank cars a day. Sounds like Berkshire Hathaway Inc is going to be in for a massive profit from the cancelation of the XL Pipeline. Did I mention even the spoksman for the Sierra Club admits that transporting oil by rail or truck is much more dangerous than by pipeline.
So let's recap, Environmentalists choose the far more dangerous way of transporting oil over the safer pipeline way and the by product of that is Warren Buffett's Berkshire Hathaway Inc should benefit to the tune of 980 oil tank cars a day at the expense of the environment when the inevitable accidents happen. It all fits in with the agenda nicely. "Somehow we have to figure out how to boost the price of gasoline to the levels in Europe." Obama's now hand picked Energy Secretary Steven Chu back in 2008. Looks like they found that way there Steven.