Buffett Doubles Down On Oil Holdings, Scoops Up Kinder Morgan

Oilprice.com ^ | 17-02-2016 | warren

[MeganC]

Now watch Buffett stop opposing Keystone XL now that he’ll be the one controlling it.

[cloudmountain]

Making money is his thing, isn't it?
He couldn't spend 1/10th of it but that's not what he wants.
He COULD give 1/10th of it to some worthy charities, too. I wonder if he does give to charities.

[sparklite2]

Good point.

[catfish1957]

Have position in this dog. I should have known something was up when it went from partnership to corp.

I hope BRKA goes all Gordon Gekko on this POS.

(I get a little p.o.ed when I don't bat a 1.000)

[Sacajaweau]

TransCanada owns Keystone

[Dr. Ursus]

How about 40 billion to the Gates foundation.

[bigbob]

Like Trump said the other day, when things are cheap, you want to BUY.

Buffett has already spoken out in favor of building the Keystone Pipeline:

http://www.cnbc.com/2014/03/03/id-vote-yes-on-keystone-pipeline-warren-buffett.html

[Vic S]

It’s begun. The oligarchs are buying up the natural resource companies. Disgusting individuals.

[catfish1957]

Now watch Buffett stop opposing Keystone XL now that he’ll be the one controlling it.

Probably reading the tea leaves and sees a trifecta of WH-HR-Senate in his investing future. That will give the pipeline a 100% chance of passage. Also watch him start dropping his positions in rail.

Smart hedge. IMO

[nascarnation]

Who owned them previously?

Just curious....

[catfish1957]

TransCanada owns Keystone

Yeah, but I have been the oil business 35 years, and am 99% sure most of the operations will be subbed out.

[econjack]

I don't see why he would stop his opposition to Keystone. Without the pipeline, the Burlington-Northern, which he owns, is the only way to move large volumes of oil out of the area. I haven't found out yet if the new company has dump spots where B&N has rail facilities. If so, they are complementary investments, not substitutes.

Finally, people often point to Buffet's statement of how he pays less in taxes than his secretary. First, that's not what he said. He said his marginal tax rate is lower. Second, if he and others (particularly in Hollywood) say their taxes are too low, then open your checkbook, write a multi-million dollar check to the IRS, and then STFU. The rest of us are having a hard time. My income has gone up by 0.2% since this clown took office but welfare recipients have enjoyed a 31% increase at my expense. Gees...free cell phones for deadbeats with my tax dollars! Tell me they're not buying votes with our tax dollars.

[Riflema]

Kinder has been trying very hard to get a NG pipeline through from the NY State Line to just north of Boston. All kinds of NIMBY opposition, largely from the greens, SJW types and so on. It would be a yuge help in our energy costs.

I expect the opposition will now quietly dissipate....

[Cletus.D.Yokel]

TransCan owns all phases of XL (1, 2 & 3).

KM owns NatGas transport to the Eastern US (TGP) via their purchase of EP.

The upshot here is that Buffet will own 90+ percent of the crude Canada-to-US Refinery transport options whether by rail, TR/TR/TR or pipeline AS WELL AS the NatGas delivery and LDS along the eastern seaboard either directly or by interconnect with “the sisters”.

Buffet has become the JP Getty of our times.
Where is our Teddy Roosevelt?

[SuperLuminal]

I assume that this means you would rather the government own them?

[Cletus.D.Yokel]

Rich Kinder started Kinder-Morgan after he left ENRON in 2001.

Is that enough info?

[Cletus.D.Yokel]

That’s why he bought EP/TGP (Tennessee Gas Pipeline).

[SunTzuWu]

What makes you think he opposes Keystone?

[proxy_user]

KMI is publicly traded on the NYSE and other exchanges.

When you accumulate a stock position, you are typically buying a large number of lots from unknown individuals selling for unknown reasons. When you get to owning 5% of the stock, you have to file a report with the SEC.