Posted on 11/19/2014 8:07:04 AM PST by upbeat5
What do train whistles and Warren Buffett have in common?
If you answered old-fashioned charm, you’re wrong.
The Sightline Institute, a Seattle-based think tank, calls the avuncular billionaire “the man behind the exploding trains.”
Buffett’s company, Berkshire Hathaway, owns Union Tank Car Company, North America’s largest leaser of tank cars. Berkshire also owns BNSF Railway Company, which moves many of those cars.
(Excerpt) Read more at news.muckety.com ...
Well, he lobbied with Obama and won. It’s a billion dollar a year windfall to his company transporting oil from Canada to the South. It’s all about lobbyists. Obama has more lobbyists than any other president.
This has been discussed on FR, for several years. We knew what old Warren was up to, with the purchase of his railcar fleet...no way in heck KPXL would get passed with Uncle Warren betting against it :(
Willie Green Memorial Ping.
Ping.
“What do train whistles and Warren Buffet have in common?”
A bunch of hot air and shrill noises come out of their holes?
Nearly all of the oil tank cars are owned/leased by oil companies. The railroad is hired to move them.
In order to help convince those using the older design (less safe) tank cars, BNSF (and others) has added a surcharge to cover the risk.
BNSF to add surcharge to older tank cars
http://www.freerepublic.com/focus/f-news/3219681/posts
October 24, 2014
BNSF Railway Co. plans to apply a $1,000 surcharge for each older tank car that hauls oil, as the railroad owned by Warren Buffett’s Berkshire Hathaway Inc. encourages shippers to scrap the puncture-prone cars.
The charge, which will take effect Jan. 1, will add about $1.50 per barrel to the cost of shipping oil across the country.
Closer to $2/bbl on the older asphalt-capable cars.
Key$tone........................
Before he was the man behind the exploding trains, he was the man behind the exploding Mortgage Backed Securities.
His firm, Moody’s, was rating MBS’s that were loaded with mortgages made to illegal immigrant strawberry pickers making $25,000/year as AAA investment grade securities.
This made it possible for pension plans, churches, and other non-profits to buy the toxic assets.
When they blew up, and Goldman was holding the bag, he then came along and bought their stock for peanuts to save them from going under.
He should be swinging from a lamppost.
And guess who owns a company that builds the newer, stronger tank cars?
Follow the money.
Another, under reported aspect is that the oil trains have caused a near doubling of turn around days for rail cars.
Before this development, I could move cars from Superior, Wisconsin to Houston, drain the cars and return them for another lifting in 30 days.
Today, that time element is close to 60 days. If my freight rate (not including the car cost) was $10/bbl, it’s now $20.
I can’t imagine what the grain haulers are doing about this...
Actually it is about payoffs in real money
We don’r know how much Obama as amassed in off shore banks
Why would Warren Buffet care where the choo choo go?
I don’t know, Mongo only pawn in game of life.
T. Boon Pickens sides with Buffett boon hates pipe lines.
” Before he was the man behind the exploding trains, he was the man behind the exploding Mortgage Backed Securities.
His firm, Moody’s, was rating MBS’s that were loaded with mortgages made to illegal immigrant strawberry pickers making $25,000/year as AAA investment grade securities.”
Buffett is one of the worst sleaseballs in America.
Where did you find that claim?
'OPEC obsolete' if Keystone pipeline OK'd: Pickens
http://www.cnbc.com/id/101098969#.
The proposed Keystone XL oil pipeline from Canada to the U.S. would make "OPEC obsolete," billionaire energy entrepreneur T. Boone Pickens told CNBC on Wednesday.
- - - - - - -
Approve the Keystone pipeline already: Pickens
http://www.cnbc.com/id/101381366
The U.S. government has taken way too much time on whether to approve the proposed Keystone XL oil pipeline, T. Boone Pickens, CEO of BP Capital Management, told CNBC on Friday.
"We've been sitting here with this on the table since September of 2008. Damn near six years," Pickens complained in a phone interview on "Street Signs." "Why can't this government make a decision in a reasonable amount of time and move forward?"
- - - - - - -
Statement from T. Boone Pickens on U.S. Senate’s failure to act on Keystone Pipeline
http://www.pickensplan.com/
Nov 18 2014
I was disappointed to learn that the U.S. Senate once again has put politics ahead of America’s energy security by blocking the bill to build the Keystone XL Pipeline....
With the Keystone Pipeline we have the opportunity to further reduce our reliance on Middle East Oil. We would be much better off negotiating with the Canadians than with OPEC.
Have you look at his investments?.
Without a doubt.
Buffett is the exact embodiment of the vulture capitalist. The robber baron.
You buy enough newspapers, however, and its amazing the hagiography you can earn.
This is why Bezos owns a newspaper. It makes him look like a humanitarian - even if it runs at a loss, he moved to save a dinosaur relic of the left. He’s untouchable. He could make drones from the ground up bones of aborted babies, and use their skin to cover the fuselage, and there’s no way he would get a word written about it anywhere. He could kill Barbara Streisand with his bare hands in Times Square. No problem.
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