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Buffett: I'd vote 'yes' on Keystone pipeline

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Anonymous

Guest
I'd vote 'yes' on Keystone pipeline: Warren Buffett


Published: Monday, 3 Mar 2014 | 8:50 AM ET
By: Matthew J. Belvedere | Producer, CNBC's "Squawk Box"



The Keystone oil pipeline is good idea for the United States, Warren Buffett said Monday, even though it would take away some business from his Berkshire Hathaway rail subsidiary BNSF.

The long-delayed leg from Alberta, Canada, to Nebraska should be approved, the billionaire investor told CNBC.


"I would vote 'yes,'" Buffett said in a "Squawk Box" interview, but added he has "no idea" if President Barack Obama will approve it.

"I don't believe in the Keystone pipeline because of the jobs you'd make building it. You can build anything and create jobs," he said. "I just believe it's a useful pipeline."

BNSF has benefited from transporting shale oil. Referring to the proposed pipeline, which has been opposed by environmentalists, Buffett said: "It's not that big a competitor. I think probably that the Keystone pipeline is good for the country."

But he acknowledged that rail cars carrying the oil will need to be made safer and promised they will be. "The oil from the Bakken, and from the Eagle Ford as well, turned out to be more volatile than people anticipated. ... We've lowered the speeds. It's [also] going to require another kind of tank car, too."


BNSF will be buying 5,000 new tanker cars. "We have found in the last year or so that it's more dangerous to move certain types of crude certainly more than was thought previously."

In late December, a North Dakota town had to be evacuated after a BNSF train carrying Bakken crude derailed and caught fire.

Full article and video: http://www.cnbc.com/id/101460011?fb_action_ids=729690230399179&fb_action_types=og.recommends&fb_ref=s%3DshowShareBarUI%3Ap%3Dfacebook-like&fb_source=other_multiline&action_object_map=%5B217529701778831%5D&action_type_map=%5B%22og.recommends%22%5D&action_ref_map=%5B%22s%3DshowShareBarUI%3Ap%3Dfacebook-like%22%5D
 

Mike

Well-known member
What else could he say? :roll:

Especially since the courts allowed him to add in the purchase price of BNSF to his fares as an extra cost of shipping (although BNSF is basically a monopoly in the area) and that he'll be "buying" those new train cars from himself (more profits)?

Few will not admit Buffet's greed & leverage. That's how Berkshire Hathaway got where they are.
 

Tam

Well-known member
Well the Big Dog has spoke so let's see if Obama crumbles like a house of cards to Buffett's money and the Union's power or do the Greenies still have him by the gonads and he will stall the project even longer?
 

Mike

Well-known member
Tam said:
Well the Big Dog has spoke so let's see if Obama crumbles like a house of cards to Buffett's money and the Union's power or do the Greenies still have him by the gonads and he will stall the project even longer?

Another attempt to divide the masses. Straight out of Alinsky's book. :roll:
 

Tam

Well-known member
Mike said:
Tam said:
Well the Big Dog has spoke so let's see if Obama crumbles like a house of cards to Buffett's money and the Union's power or do the Greenies still have him by the gonads and he will stall the project even longer?

Another attempt to divide the masses. Straight out of Alinsky's book. :roll:

I can see why he would want to divide the left from the right, the rich of the right from the poor of the left but what I don't understand is why is he pizzing off parts of his own base to appease another part of his base? Let's face it the Dems and the Unions have had a very long relationship and many of the election would not have gone to the Democrats if it was not for the Unions funding and campaigning for them. So why is he dividing them off with his actions. It makes no sense.
 
A

Anonymous

Guest
North Dakota regulators send letter of support for pipeline

Posted by: Lydia Gilbertson in Bakken News, North Dakota News March 4, 2014 


BISMARCK, N.D. (AP)— The North Dakota Industrial Commission has sent a letter of support for the proposed Sandpiper pipeline that would move North Dakota oil to Minnesota and Wisconsin.

Calgary, Alberta-based Enbridge Energy is proposing the $2.6 billion, 612-mile pipeline to carry 225,000 barrels of oil daily to a hub in northern Minnesota and 375,000 barrels to one in northwestern Wisconsin.


The Industrial Commission agreed to send a letter of support on Monday to the Federal Energy Regulatory Commission.

The project would be the largest pipeline moving oil out of North Dakota.

North Dakota’s portion of the pipeline is 299 miles.
 

loomixguy

Well-known member
Oldtimer said:
North Dakota regulators send letter of support for pipeline

Posted by: Lydia Gilbertson in Bakken News, North Dakota News March 4, 2014 


BISMARCK, N.D. (AP)— The North Dakota Industrial Commission has sent a letter of support for the proposed Sandpiper pipeline that would move North Dakota oil to Minnesota and Wisconsin.

Calgary, Alberta-based Enbridge Energy is proposing the $2.6 billion, 612-mile pipeline to carry 225,000 barrels of oil daily to a hub in northern Minnesota and 375,000 barrels to one in northwestern Wisconsin.


The Industrial Commission agreed to send a letter of support on Monday to the Federal Energy Regulatory Commission.

The project would be the largest pipeline moving oil out of North Dakota.

North Dakota’s portion of the pipeline is 299 miles.

That letter and 50 cents "might" get you a cup of coffee....but at McDonald's coffee is a dollar.
 

Steve

Well-known member
Bufffet often says alot of things that will not happen nor apply to him.

take his millionaire tax.. if you work hard and make a million it applies..

but if you have large capital gains.. it doesn't..

guess which category he is in,.. ?
 
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