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Billionaire Buffett's Bakken Boom (Obama's crony benifits richly the nixing of Keystone pipeline)
Investors Business Daily ^
| Wednesday January 17, 2012
Posted on 01/18/2012 2:20:00 PM PST by Bigtigermike
Energy Policy: Killing the Keystone XL pipeline may help one of the world's richest men get richer. North Dakota's booming oil fields will now grow more dependent on a railroad the president's economic guru just bought.
[....]
Interestingly, another billionaire, Obama economic inspiration Warren Buffett, stands to benefit from the Keystone XL pipeline delay.
As oil production ramps up in the Bakken fields of North Dakota, plans to use the pipeline to transport it have been dashed.
As a result, North Dakota's booming oil producers will have to rely even more on the Burlington Northern Santa Fe (BNSF) railroad, which Buffett just bought, to ship it to refineries.
(Excerpt) Read more at news.investors.com ...
TOPICS: Front Page News; News/Current Events; Politics/Elections
KEYWORDS: cronyism; keystonepipeline; keystonexl; obama; warrenbuffet; warrenbuffett
To: Bigtigermike
2
posted on
01/18/2012 2:27:17 PM PST
by
EQAndyBuzz
(Most Conservative in the Primary, the Republican Nominee in the General.)
To: Bigtigermike
At least we know why he rejected it...
3
posted on
01/18/2012 2:36:24 PM PST
by
Jonty30
(What Islam and secularism have in common is that they are both death cults.)
To: Bigtigermike
That’s what I’ve been saying for a long time. The railroad is shipping the oil out of here and Buffett is cleaning up on transporting the oil.
I live in Ross Nd next to McKenzie county where most of the drilling is taking place
4
posted on
01/18/2012 2:36:50 PM PST
by
South Dakota
(shut up and drill)
To: Bigtigermike
North Dakota's booming oil fields will now grow more dependent on a railroad the president's economic guru just bought.
Moving crude via rail will only be a temporary step, they will build a pipeline to Cushing, OK. Back in the the late 19th century they moved oil by rail and shortly thereafter switched to pipelines, cheaper to build the pipeline in the long run.
5
posted on
01/18/2012 2:40:59 PM PST
by
Recon Dad
(Gas & Petroleum Junkie)
To: South Dakota
email I got from Obamaloons last night:
Thank you for writing. President Obama has heard from many Americans concerning the proposed Keystone XL Pipeline project, and we appreciate hearing from you. The President is committed to creating the most open and transparent Government in American history, and values your input. Given your interest in this matter, you may be interested in reading a recent official White House response to a petition on this issue. To learn more, please visit: www.WhiteHouse.gov/Energy. Thank you, again, for writing.
at the point of "open and transparent" , I was laughing pretty hard.
6
posted on
01/18/2012 2:48:42 PM PST
by
WOBBLY BOB
(Congress: Looting the future to bribe the present.)
To: Bigtigermike
How fortunate for Mr Buffett, just happening to have a railroad handy at the right time like that. He is truly an oracle. I'd boycott his companies, but he owns everything, so that makes it kind of hard.
7
posted on
01/18/2012 2:49:11 PM PST
by
throwback
( The object of opening the mind, as of opening the mouth, is to shut it again on something solid)
To: Recon Dad
Why not build a refinery closer to the oil fields? Whatever happened to the one proposed at South Sioux City, NE?
To: Bigtigermike
Why not just build a pipeline to the Canadian side of Lake Michigan, build a refinery, and then ship the oil via oil tanker down the Mississippi?
That would put a lot of union longshoremen and riverboat captains to work sailing the Mississippi river.
9
posted on
01/18/2012 4:37:23 PM PST
by
Chewbacca
(woof woof. That's my other wookie impression.)
Boop His Tiny Tail!
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10
posted on
01/18/2012 5:26:51 PM PST
by
TheOldLady
(FReepmail me to get ON or OFF the ZOT LIGHTNING ping list)
To: Bigtigermike
I would think shipping by rail is more environmentally problematic than shipping by pipeline.
11
posted on
01/18/2012 5:59:31 PM PST
by
cookcounty
(Newt 2012: ---> Because he got it DONE.)
To: Bigtigermike
I'm sure it's entirely coincidental.
(muffled hysterical laughter)
12
posted on
01/18/2012 6:04:02 PM PST
by
facedown
(Armed in the Heartland)
To: Bigtigermike
A lot of folks just saw Baraq as a hard left academic.
They missed the fact he got a masters degree in “operations” from the Chicago political mob - the folks who perfected corruption.
This is another fine example.
13
posted on
01/18/2012 6:04:10 PM PST
by
nascarnation
(DEFEAT BARAQ 2012 DEPORT BARAQ 2013)
To: throwback
“How fortunate for Mr Buffett, just happening to have a railroad handy at the right time like that. “
Reminiscent of George Soros donating to “Don’t Drill Here, Don’t Drill Now” organizations, while deeply, and I mean DEEPLY invested in Brazil’s Petrobras:
http://stumpedagain.wordpress.com/obamas-deep-drilling/
14
posted on
01/18/2012 6:06:16 PM PST
by
cookcounty
(Newt 2012: ---> Because he got it DONE.)
To: Bigtigermike
As a result, North Dakota's booming oil producers will have to rely even more on the Burlington Northern Santa Fe (BNSF) railroad, which Buffett just bought, to ship it to refineries...aha - that's what's going on - I didn't think the environmental-dilettantes could come up with more cash than the unions, but in that Obama always goes to the highest bidder I knew there were big bucks invested somewhere - Buffett's the answer.......
To: Conservativegreatgrandma
Hard to build refineries anywhere and cheaper to build pipelines. We have lots of refineries and could use more, but what people forget when they say we haven't built a new refinery in this country in 30 years is that the present refineries have doubled and tripled their capacities over the years.
16
posted on
01/19/2012 3:57:05 AM PST
by
Recon Dad
(Gas & Petroleum Junkie)
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