I thot I explained this awhile back? Burlington Northern Santa Fe as well as Union Pacific are all owned by Warren Buffet, the Oracle of Omaha, now. The very day after Bidum cancelled the pipeline to Kanada he started placing orders for rail tank cars. The major effort to build rail equipment is still for tank cars. The oil is still coming from the Athabaska in Alberta but it’s coming in rail cars instead of pipelines. Buffet charges roughly ten times more to rail oil than it typically costs to pipe it. Notice there was a note earlier about UP being based in Omaha-—never happened until Buffet bought it.
Hauling bulk oil is so much more profitable than hauling boxcars of Amazon trinkets that I don’t blame Buffet for down playing the other kinds of freight. Buffet was the biggest advocate for cancelling the pipeline.
Not only is this a big factor in the price of fuel being high but tank car production has effected the price of steel. The steel I buy is up more than 25% since Bidum’s fake inauguration.
So the short answer to your question about who’s paying them is: You are. Whenever you buy fuel or anything made of steel. There was a brief story a couple days ago about UP taking 100 engines out of mothballs. They no doubt need help pulling the tankers? How come no one has asked Buffet why he’s working so hard to screw things up?
Union Pacific is not owned by Buffet.
His company Berkshire Hathaway Inc. owns 3.04% of total float as of April 18.
The Top 10 investors in Union Pacific read like a WEF Great Reset roster taking their orders from Reichsfurher Schwab:
The Vanguard Group, Inc. 50,741,356 8.07%
Capital Research & Management Co. 42,600,000 6.78%
SSgA Funds Management, Inc. 27,442,731 4.37%
Berkshire Hathaway, Inc. (Investment Management) 19,116,000 3.04%
Wellington Management Co. LLP 14,457,961 2.30%
BlackRock Fund Advisors 13,788,516 2.19%
Massachusetts Financial Services Co. 11,056,408 1.76%
Geode Capital Management LLC 10,413,195 1.66%
United States Trust Co., NA 9,332,052 1.49%
Northern Trust Investments, Inc.(Investment Management) 7,384,575 1.18%
You are correct about BNSF Buffet is behind the cancellation of Keystone and one of the cost drivers for petroleum.
So the rail companies want to haul oil only and the hell with grains and feed. Still doesn’t totally add up to me but then I know nothin about this stuff. There are still rail cars that are meant for hauling grains and feed.
Warren Buffet and the trains, thanQ Old War Baby.
I’m still scratchin my head...what active leg of the Keystone pipeline was shut down ?
The XL construction(phase-4), to start in Canada, never got off the ground.
It was projected to ship 500k barrels a day for twenty years before TC Energy bailed on the project after Biden adiosed it.
According to US energy, there hasn’t been any major increase in crude oil imports from Canada since.
https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRIMUSCA1&f=M
Even if XL gets a go it will probably be 2-3 years to be online.
What is Buffet hauling ? or better still what am I missing ?