Posted on 02/17/2016 1:39:28 PM PST by bananaman22
To further clarify, there are 2.23 billion shares outstanding for a market cap of $38.34 billion. Buffett owns 26.3 million shares, which is a little more than 1% of the total company.
The shares he bought are an addition to the 14% of KMI he already owns.
It’s a large stake to be sure, but he doesn’t come close to controlling the company as some upthread posters would like to think.
All we have is Betty Roosevelt Obama.
Buffett opposed Keystone because his railroad was transporting the oil from Alberta to the Gulf coast refineries. He stood to lose a fortune if the pipeline went through.
Now he stands a chance at controlling the pipeline.
I think you’ve been misinformed. Just because he owns rail stock doesn’t mean he’s against pipelines. He can buy pipe line companies as easily as he bought railroad companies. There is also the link in post #8 on this thread. Note the date.
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