October 6, 2011 - Warren Buffett, the Keystone Pipeline, and Crony Capitalism
*snip*
A year after the election of Obama, Warren Buffett bought a giant railroad, the Burlington Northern Santa Fe. The BNSF has more than 32,000 miles of track and right-of-way in this nation, running from the west coast and through the agricultural heartland of America. It is also hauls coal from the mines in Montana and Wyoming and is the railroad with the best existing north-south infrastructure. In fact, it's quite well-situated to perform precisely the task for which TransCanada has proposed to build a pipeline.
Should the pipeline fail, the oil will still be extracted, but it will then be transported by rail, and Mr. Buffett, thanks to the efforts of his friend Mr. Holland, will be uniquely situated to derive a fortune from that business, as well as enhance the value of his holdings in Conoco-Phillips petroleum. Is it possible that Warren Buffett's assistance to Obama in both policy and public relations lately may be his way of trying to tip the regulatory scales in his favor? After all, nothing says "I love you" to a Democrat better than a public plea for more taxes.
In any case, the opposition to the pipeline is not only tainted, but intellectually and scientifically bankrupt. BOLD Nebraska are correct when they screech that there is an agenda being served here, but it is not big oil, environmentalism, or even green energy; it appears to be garden-variety crony capitalism, an Obama administration specialty.
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No pipeline .. and it will not willingly be allowed to happen as long as this cretin pursues his 'help my comrades' mission. I despise these heathens, crooks and liars.
Buffett is so full of crap. A classic example of “do as I say not as I do”-—much like Algore.
Buffett says rich folks like himself should pay more taxes. Yet he is currently setting up his estate so that private tax-exempt foundations like the Gates Foundation will end up getting the bulk of it. The IRS will get very little or nothing when he dies. Buffett knows full well that the federal government wastes money. That’s why is is making sure they will get very little of his money. Nothing wrong with that, of course. It’s when Buffett gets on his soap box saying the rich like him should be paying more when he is busy at work sheltering as much of his income and assets as he possibly can from the tax man. No one is stopping Buffett from whipping out his wallet and writing a check to Uncle Sam. What a big phony and a hypocrite. I’m sick of his sorry ass and his pontificating.
Buffett advocates higher income taxes, which is very easy for him to say because he already has his. Never mind watching what he does, what he says is bad enough.