Posted on 03/02/2015 6:50:21 PM PST by thackney
The Keystone XL pipeline got an emphatic endorsement Monday from a powerful backer of President Barack Obama who questioned the handling of the file.
To billionaire investor Warren Buffett, the delay is a thumbing of the nose at Canada.
"I would have passed Keystone," Buffett said in an interview with CNBC.
"I think that we have an enormous interest in working with Canada, as they have in working with us. That oil is going to get sold. If we make it more difficult for them, who knows how they'll feel about making things more difficult for us someday."
Because Buffett owns interests in the rail industry, in addition to oilsands holdings, there had been some speculation that he might have stood to benefit from a Keystone rejection.
But he has expressed support for it in the past, and did so with particular force Monday: "That (oil) is a valuable resource of North America, and Canada has been a terrific partner over the decades, and for us to kind of thumb our nose at them, you know, (that's) not what I would do."
Buffett has been a donor and occasional political ally of the president, notably on the issue of increasing taxes for the wealthy. As for the pipeline, Obama has vetoed legislation on it and has made increasingly critical remarks about it, prompting widespread speculation that he's gearing up to reject it.
A prominent pipeline opponent in Nebraska said it should now be clear that the opposition movement isn't being bankrolled by the state's wealthiest resident, the so-called Oracle of Omaha.
"Well, (hope) this puts to bed all of those rumours from the right that Bold is funded by Buffett," said a tweet from Jane Kleeb, the founder of the group Bold Nebraska, which has organized landowners fighting the project.
It wasn't the only development welcomed Monday by pipeline supporters. The Washington Post's "Fact Checker" feature also tore into Obama's repeated claims that the pipeline would do nothing but export Canadian oil.
The Post pointed out that in addition to Canadian bitumen, the pipeline would also carry oil from North Dakota and Montana to U.S. Gulf Coast refineries.
It gave the president the worst possible truth-telling score — "Four Pinocchios." It said Obama's statements contradicted the findings of his own State Department's review.
"Clearly, the report remains unread," said the Post piece.
"If he disagrees with the State Department's findings, he should begin to make the case why it is wrong, rather than assert the opposite, without any factual basis."
Buffett criticises Obama? Didn’t know he was such a racist
Shut up, Warren. You supported the thug so we don’t care what you think.
I hear you, Smooth. I doubt enviro-nazis are cuddly with Buffett but they could be using each other on this.
It wouldn’t surprise me. I havn’t heard the enviro nuts complaining about the train that derailed in West Virginia.
As it turns out, it is more likely that the oil would be piped east to St. Johns, NB instead of west to BC for tanker export. Less expensive and fewer complications both technical and political. For much of the east coast route, there are existing underused pipelines in place that would be repurposed so fewer miles of new pipeline are required compared to the west to BC option. The main hurdles that I have heard of are in Quebec regarding some side pipelines to go to Quebec located destinations and infrastructure expansion in St. Johns, which will be tangled up with the Irving Oil facilities there, which include an existing supertanker port.
Export oil from St. Johns would go to buyers on the USA east and gulf coasts and to Europe. Almost certainly shipping cost would be too great to go to Asia via supertanker around Cape Horn.
“Honestly I’m kinda surprised that Canada hasn’t just told us to go pack sand and run the pipeline to Vancouver. The Chinese have already made it clear they would like to be in on something like that.”
Canada is waiting to see the outcome of our next Presidential Elections in 2016. To see if the U.S. is truly a lost cause or not.
Prolly. Got to hand it to the POS, he is clever.
USA is not thumbing its nose at Canada. Hussein Baraka is.
The remedy is simple, get rid of Hussein Baraka.
Obstruction Leader Harry Reid to Attempt Historic Filibuster on Override of Keystone Veto
http://www.freerepublic.com/focus/news/3263406/posts
The TransMountain Pipeline, owned by Kinder Morgan, already moves oil and products to that area, even across the border into the US. It is being expanded. It is needed in addition to the Keystone XL, not in place of.
PROPOSED EXPANSION
http://www.transmountain.com/proposed-expansion
The proposed expansion, if approved, would create a twinned pipeline that would increase the nominal capacity of the system from 300,000 barrels per day, to 890,000 barrels per day.
Buffett has given his support to the Keystone XL for years. This is just the latest time he spoke of it.
Warren Buffett backs Keystone pipeline
http://thehill.com/policy/energy-environment/225987-buffett-keystone-pipeline-makes-sense
05/08/12
Buffett has publicly supported the Keystone XL for years.
But Buffett — an Obama supporter whose name has been used by the White House to sell a plan to increase taxes on the rich — steered clear of criticizing the president.
“I don’t think that issue is done with yet,” Buffett said when asked whether he was disappointed in President Obama’s decision to reject a key permit for the project in January.
Same old Buffett bs. Obama's had over 6 years to approve the pipeline, while Buffett blows smoke.
I’m not claiming that Buffett is pushing Obama to make this approval, only that he has publicly claimed support of the Keystone XL pipeline for years. He did not wait until after the veto to make such a statement.
——prompting widespread speculation that he’s gearing up to reject it.-—
That is an interesting statement. I thought the veto was a done deal
It would seem to me that Buffet and the railroad have a problem of too much business for the available track and equipment.
The pipeline will solve his problem. He probably lacks the capital to increase his capacity that would always be threatened by the possibility of the pipeline
The Veto rejected congress attempt to bypass the State Department decision. That process continues unchanged. The bypass was rejected.
BNSF oil terminals are greatest in the Bakken area. I don’t see the Canadian Oil Sands have as great an impact for the railroad that Buffett’s Berkshire Hathaway owns.
Keystone XL would not even enter North Dakota. They really focus on separate areas. Some overlap, but it is minor.
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