Buffett and Shultz, allies of Obama and Steyer, endorse Keystone pipeline . . . "Buffett, a close ally of President Obama said during a CNBC interview Monday he thought the controversial project was a "good idea for the country.' " . . .
Warren Buffett Profits Hugely from Obama Keystone Decision . . . . . . "With the permit denied, the only option left to transport the oil is via railroad. One of the key railroads which will be running this oil is the Burlington Northern Santa Fe, a railroad which Buffett acquired in 2009. As Krista York-Wooley, a spokeswoman for BNSF, put it, if Keystone XL “doesn’t happen, we’re here to haul.' ”
Warren Buffett Is Still Bullish On Rail--And Keystone MAR 3, 2014. . . "BNSF has ramped up its operations there dramatically, now moving 600,000 barrels of oil per day (once refined, that’s enough to fill the gas tanks of 1.35 million cars), more than ten times the amount moved in 2010.
"Rail has emerged as an alternative to pipelines, offering a faster means of shipping crude–though perhaps more risky, as a recent spate of oil car accidents has shown.
"Despite his stake in the railroad business, Buffett still expressed support for the controversial Keystone XL Pipeline."
“ 'I think probably the Keystone Pipeline is a good idea from the country,” he posited. As to if and when it would be completed, his answer was less definitive: “I have no idea.”
"Buffett’s BNSF, along with rival Union Pacific and others, stand to profit either way. Even if plans for the pipeline go ahead, locomotives will be needed to lug out much of the raw material needed for its construction; Buffett says Keystone is “not that big a competitor.' ” . . .
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