The image includes a photo of a pipeline. The author has no business relationship with any company whose stock is mentioned in this article. Oil transport had a lot to do with, Investment News reported in 2015. Cancelled by Biden on first day. Railroads such as BNSF, Reuters says, are not the principle way oil is transported from Canada to the United States.. This image and claim first appeared during the Obama administration. Debbie Bosanek, assistant to Warren Buffett, told Reuters via email that Mr. Buffett has been reaping the benefits of the Keystone pipeline not being built because of his railroad shipping oil from the Bakken oil fields. In fact, there is no record Buffett gave any money to Bidens 2020 presidential bid, and Buffetts assistant, Debbie Bosanek, confirmed to The Associated Press that he did not. It would traverse about. This is part of The Associated Press ongoing effort to fact-check misinformation that is shared widely online, including work with Facebook to identify and reduce the circulation of false stories on the platform. The Keystone veto override vote failed in the Senate. I cannot speculate as to what company may be next for a takeover from Berkshire Hathaway, but I would not be surprised if it owns a license to export LNG from the west coast. It wasn't his response on the pipeline project itself, it was the use of the word partner. It is true that Buffett's company, Berkshire Hathaway, owns BNSF Railway, a freight railroad network that transports crude oil. Sign up and stay up to date with our daily newsletter. The theory is that Buffett is. BHA had 18.4% higher earnings in 2022, driven by higher vehicle gross profit margins. The Keystone XL may have simply become a symbol of dirty, nasty oil, which meant it had to goeven if theres little dispute that spiking the pipeline increases pollution and energy costs and puts more lives at risk. Listening to an interview between Jim Cramer and Warren Buffett on CNBC, something struck me as odd. Suncor is Canada's largest energy producer. Because of this, operators prefer to use pipelines and use rail only as a backup.. These potential profits stand to benefit from the fact that shipping oil by train doesnt operate under the same price restraints as oil pipelines, which are regulated much like utilities by the federal government. See how politics works? See how politics works? Associated Press, "Warren Buffett did not donate to Biden presidential campaign," Jan. 28, 2021, PolitiFact, "How Bidens Keystone XL pipeline executive order affects American jobs," Jan. 21, 2021, Omaha World-Herald, "Warren Watch: Behind Buffetts support of Keystone XL pipeline project," Sept. 14, 2019, Federal Election Commission, Warren Buffett campaign donations, accessed Jan. 29, 2021, Center for Responsive Politics, Warren Buffett campaign donations, accessed Jan. 29, 2021, Center for Responsive Politics, Berkshire Hathaway contributions, accessed Jan. 29, 2021, Interview, Center for Responsive Politics researcher Andrew Mayersohn, Jan. 29, 2021. Suncor has a lot of time, money and energy invested in this pipeline going through. The Biden administration is not likely to take any action against that, especially since some of the trains are owned by billionaire and Biden-supporter Warren Buffett. Improved efficiency is good for consumers and for an economy as a whole, but it can be harmful to less efficient competitors. Warren Buffet would lose billions in transport fees if the pipeline is completed. But the posts main thesis, that the billionaire investor was a major donor to Bidens campaign, is not true. A historic look (1982-2018) at the transportation prevalence of pipelines, marine vessels, rail and truck for oil transport is visible here . It's turned into an evolving political litmus test, and that is a shame. Warren Buffett did not donate to Bidens presidential campaign, nor did he endorse him. Wind farm construction is a possible cause of dead whales washing ashore in New Jersey. But the truth is, Buffett did get a bargain (at least in hindsight). Financhill has a disclosure policy. Born and raised in Northeast Ohio. Maybe its the fake Robin Williams quote your aunt shared on Facebook. Cancelled by Biden on first day. Im not an engineer, but plain common sense indicates it would be safer to ship Bakken oil through a smooth pipeline instead of by rail. Billionaire investor Warren Buffett affirmed his belief that the Keystone XL pipeline would benefit America if it's approved by the Obama administration. Warren Buffet owns the railroad that is now transporting all that oil. Cancelled by Biden on first day. Mr. It would have carried up to 830,000 barrels per day of crude oil from Alberta, Canada, to Steele City, Neb., where it would connect with another leg stretching to Gulf Coast refineries. ), The false information can take many forms. Analysts have several theories about why Warren Buffett bought BNSF. He files all filing requirements for political contributions and made no contribution to any PAC.. Bidens executive order revoking the permit for the project read, Leaving the Keystone XL pipeline permit in place would not be consistent with my Administrations economic and climate imperatives.. Environmental activists and indigenous communities hailed the cancellation, and traders and analysts said U.S.-Canada pipelines will have more than enough capacity to handle increasing volumes of crude out of Canada, the primary foreign supplier of oil to the United States ( here ). This caused me to think about what a mistake this whole argument has been. In this Dec. 18, 2020 file photo, pipes to be used for the Keystone XL pipeline are stored in a field near Dorchester, Neb. Read more about our work to fact-check social media posts here . Buffett previously has voiced public support for the Keystone XL pipeline. Berkshire Hathaway already owned 22.6% of the company, so the . A hefty sum, to be surethough one Buffett would hardly feel.). Scholars at Carnegie Mellon University and the University of Pittsburgh also found that locomotive transport causes twice as much pollution as pipelines. No pipeline failure has ever come close to this level of human death and suffering, Westenhaus points out. Dave Smallen, director of public affairs at the Bureau of Transportation Statistics, sent Reuters estimates for 2020 calculating that of the oil coming from Canada to the United States, 74.4% used pipelines compared to 3% using rail. 801 3rd St. S Or is it that folks in flyover country matter less to the president than his natural base of East and West Coast environmentalists? With Burlington Northern's testing of LNG powered locomotive and their interest in shipping LNG on trains, what's Warren's next move? Fueled by crude by rail volumes, BNSF became a cash cow for Berkshire, producing billions. Why not use neighbor or even friend? Our only agenda is to publish the truth so you can be an informed participant in democracy. Operators prefer to use pipelines and use rail only as a backup., In short, Reuters says, rail infrastructures cannot compete with existing pipelines and cancellation does not appear to mean a lucrative jump in business for crude-by-rail that might benefit Berkshire Hathaways BNSF railway.. Biden cancellation of Keystone XL pipeline was not a favor to Warren Buffet. Buffett didnt make any contributions to Bidens 2020 presidential campaign. In his wonderful amiability to the Canadian nation, the use of the word partner should make a lot more sense. Maps of the Keystone Pipeline System and Keystone XL Pipeline show its route: they Keystone XL would have created a shortcut in transporting oil from Alberta to Nebraska, while the existing Keystone Pipeline System connects the Canadian source to multiple U.S. states ( here ). While analysts over the years have suggested that the Keystone XL pipeline would take business from BNSF, Buffett voiced his support for the project in aCNBC television appearance in 2014. Months later, a curious social media post suggested the demise of the planned pipeline was the work of former President Barack Obama and was done as a favor to billionaire investor Warren Buffett. So while his competitors are building the LNG pipelines and storage facilities to stop the flaring of natural gas, Buffett may make another move. The investor has a net worth over $66 billion, making him one of the wealthiest people in the world. The text above the photo, which misspells Buffetts name, says: "The Keystone pipeline. stated on February 26, 2023 an Instagram post: stated on February 8, 2023 a Facebook post: stated on February 7, 2023 a post on Facebook: stated on February 6, 2023 an Instagram post: stated on January 25, 2023 an Instagram post: stated on February 4, 2023 a Facebook post: stated on January 27, 2023 a Facebook post: stated on January 23, 2023 an Instagram post: stated on January 15, 2023 an Instagram post: stated on January 12, 2023 a Facebook post: stated on January 5, 2023 a Facebook post: stated on January 3, 2023 a video shared on Instagram: stated on February 25, 2023 in a Facebook post: stated on February 22, 2023 in a Facebook post: stated on February 26, 2023 in an Instagram post: stated on February 27, 2023 in a Facebook post: stated on February 15, 2023 in a Facebook post: stated on February 26, 2023 in a video on Facebook: stated on February 25, 2023 in an Instagram post: stated on February 18, 2023 in a Facebook post: All Rights Reserved Poynter Institute 2020, a 501(c)(3) nonprofit organization, A vigilante shot down the Chinese spy balloon in an extraordinary act., "Warren Buffett did not donate to Biden presidential campaign,", "How Bidens Keystone XL pipeline executive order affects American jobs,", "Warren Watch: Behind Buffetts support of Keystone XL pipeline project,", Rifles were involved in 297 deaths in the U.S. in 2022 and constipation killed 2,167.. Records from the Federal Election Commission and the nonprofit Center for Responsive Politics show that Buffett, a donor to Barack Obamas and Hillary Clintons presidential campaigns, did not contribute to Bidens 2020 presidential campaign. Warren Buffet [t] owns the railroad that is now transporting all that oil. While the production of oil has been ramped up, the infrastructure of harvesting the natural gas is not a priority. For starters, it doesnt even spell Buffetts name correctly. A Facebook post that has been shared more than 60,000 times suggests Biden halted the pipeline not for environmental reasons, but as a favor to Buffett. But rail-car supplies can expand . Business Insider ( here ) also reported on Buffett not donating to Biden during this election after having donated to Hillary Clinton and Barack Obama in past elections. Rifles were involved in 297 deaths in the U.S. in 2022 and constipation killed 2,167., Drinking or using tap water treated with chlorine is dangerous because chlorine is a poison., Joe Biden described America as the foothills of the Himalayas with Xi Jinping., Kid Rock tweeted, Some people wouldnt recognize tyranny if it slapped a mask on their face, made them stand 6 feet apart, and forced them to take a vaccine for a virus with a 99.8% survival rate., The train that derailed in Ohio was carrying over 300,000 gallons of a chemical that was banned in 1974.. The same theory circulated during the Obama administration. See here for a complete list of exchanges and delays. The importance of railroads hasnt gone unnoticed by some of the worlds top investors. St. Petersburg, FL This article was produced by the Reuters Fact Check team. This brings me to the Panama Canal. We don't find evidence that the decision was intended to benefit Buffett. ", Earthquake in Turkey and Syria is "a systemic attack against Kurdish people.". Sometimes its more subtlethe news headline that says something thats actually not in the article. The news agency also admits trains on the BNSF carry lots of energy (especially oil and coal). ", "New government-funded 'food pyramid' says Lucky Charms are healthier than steak. It is true that Buffetts company, Berkshire Hathaway, owns BNSF Railway, a freight railroad network that transports crude oil. Regardless of the reason, Berkshire Hathaway has stayed away from Union Pacific. Published: Nov. 3, 2009 at 4:18 p.m. Video shows President Joe Biden recalling an alien encounter. Was there an ulterior motive sticking up for the country that the United States has the longest border in the world with? Buffett made a $34 billion dollar investment in the Burlington Northern Santa Fe railroad (BNSF) one year after Obama was elected. Reuters spends a lot of time attempting to refute a central claim of the meme: that Buffett would lose billions in transport fees if the Keystone pipeline is completed. "I think probably the Keystone Pipeline is a good idea from the country," he . Having a train station in town helped locals access the goods they needed. The Keystone pipeline. We need your help. The company is an indirect, wholly owned subsidiary of Berkshire Hathaway, which is controlled by investor Warren Buffett. Did you think Buffett would buy those cars himself because he loves protecting little bunny rabbits? In 2018, he gave $33,900 to the Democratic Congressional Campaign Committee, $33,900 to the Democratic Senate Campaign Committee, and $2,700 each to the campaigns of Democrats Donna Shalala and Rufus Gifford. The 1,700-mile pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast. Even in May 2020, when much of the economy struggled with the COVID-19 pandemic, Berkshire Hathaway had$137 billion in cash. President Barack Obama's decision to withhold approval of the Keystone XL pipeline will hugely benefit one of his largest supporters - Warren Buffett. You have permission to edit this article. It is not an environmental issue, it is a money issue the Facebook post reads. FEE Composite: Flickr-Fortune Live Media | Roy Luck, CC BY 2.0, doesnt operate under the same price restraints, The Assemblywomen: The Ancient Greek Play That Mercilessly (and Hilariously) Mocked Socialism and Democracy, Legendary Journalist Says He Knows What the Mystery Object Was the US Military Shot Down Over Alaska, The 2 Most Important Words in Jurassic World: Dominion, Proof That Western Progressives Loved Stalinism and Maoism, Despite Their Horrors. Berkshire Hathaway already owned 22.6% of the company, so the acquisition gave it total ownership of BNSF. 'Buoyed by an onshore oil boom, Burlington Northern Sante Fe has become a cash machine for Mr. Buffett,' Investment News reported in 2015. And many of those rail lines and tankers belong to BNSF. But one reason, perhaps, is that the pipeline was spiked because of its low cost and efficiency. One reason this claim seems a bit out of place? As for the claim about Buffett's concern for the pipeline it's true that Berkshire Hathaway owns BNSF Railway, which carries crude oil and has an interest in transporting Canada's supply. Buffett does stand to profit from the cancelation of the Keystone pipeline and perhaps a great deal. In 2011 North Dakota was producing 417,400 barrels of oil per day. With this newest expansion to the Panama Canal, the trip will be immensely shortened and cheaper. On the other hand, one should be careful about levying accusations not grounded in facts, and its worth noting that publicly Buffett has actually voiced support for the Keystone XL pipeline, saying it was good for the country., Ultimately, we dont know why the Keystone Pipeline was shut down. Mr. Instead, he takes a long-term perspective that involves purchasing a company and improving its performance over the years. They claim that railways owned by Buffett now stand to benefit from transporting the oil that the Keystone XL Pipeline would have carried. The post from Oct. 27 misspells Buffetts last name and shows an image of a train with the text underneath referencing Burlington Northern Santa Fe Railroad, which is owned by Berkshire Hathaway, the conglomerate headed by Buffett. (In case you didnt know. CLAIM: Billionaire Warren Buffett donated $58 million to President Joe Bidens campaign, so Biden canceled the Keystone XL pipeline as a favor to Buffett. 1800 I Street NW The railroad had sent more than $15 billion in dividends to Berkshire through Sept. 30, according to quarterly regulatory filings. Before explaining what Reuters left out, let me say Im not suggesting Buffett, a brilliant investor and businessman, had anything to do with the spiking of the Keystone XL pipeline. It notes that the impacts of a [Keystone XL] cancelation are muted over the medium-term in large extent due to two other pipeline projects just around the corner (Enbridge Line 3 Replacement (L3R) and the TransMountain Expansion project (TMX). These pipelines will likely take rail volumes down to any contractual minimums until 2030.. But lets remember the reason given by President Barack Obamas administration and its friends for holding up the Keystone project: the environment. "In the last 2 election cycles," the image reads, "Buffet gave extensively to Democrat causes and candidates. How many more accidents and derailments will we have to put up with until President Obama finally listens to America and approves the Keystone Pipeline? But this years letter is a bit different -- still breezy and cheeky -- but omits a crucial fact, one thats related to the Keystone Pipeline controversy. The Keystone XL Pipeline has been blocked multiple times for climate, economic, and perceived national-interest reasons. Oil that the Keystone Pipeline can't handle is now transported into the U. S. by rail. This is false, as most of the oil that would have made use of the. Sorry, there are no recent results for popular collections. If completed, the $7 billion Keystone XL would deliver 700,000 barrels a day of crude from oil sands in Canada to Texas refineries on the coast of the Gulf of Mexico. The meme contains information that is demonstrably false. Warren Buffet donated 58 million to Biden campaign. After all, the #1 stock is the cream of the crop, even when markets crash. Buffett has never seen any report by BNSF projecting whether the Keystone Pipeline would increase or decrease the revenue of the railroad, Bosanek wrote. Warren Buffett consistently makes some smart investment decisions that lead to huge returns. Federal Election Commission records show that Buffett made no individual contributions in 2020. He will then move on to LNG, and find a way to move the LNG to the west coast to export to Asia either by his railroad or pipelines (some of which already exist and are owned through Berkshire Energy). . The posts say Buffetts railroad is now transporting all that oil following the Keystone XL Pipelines cancellation. Maybe that day will eventually come. Its expensive to transport crude by rail, especially over long distances, Ben Cahill, a senior fellow in the Energy Security and Climate Change Program at the Center for Strategic and International Studies (CSIS), told Reuters via email. So score one for Reuters for setting the record straight (and correctly spelling Buffetts name). With more efficient railways, companies that need to distribute products all over the country can improve their profits. Official govt docs expose Michelle Obamas 14 year history as a man., "Woody Harrelsons 60 seconds in the middle of his monologue was cut out of the edits released after the show., BREAKING Trump preps Marines to stop presidential coup.. Its important to consider that buying BNSF does more than help Berkshire Hathaway earns returns from within the railway industry. "I think probably the Keystone pipeline is a good idea for the country," he said during an appearance on CNBC's "Squawk Box" on Monday. APS ASSESSMENT: False. I have been in the financial industry since 1999. So looking to the future, little competition beyond existing railways is likely to ensue. Jonathan Miltimore is the Managing Editor of FEE.org. Buffett, in fact, supported its construction. Nor did Buffett campaign in favor of the current president. The posts say Buffett's railroad "is now transporting all that oil" following the Keystone XL Pipeline's cancellation. Financhill just revealed its top stock for investors right now so there's no better time to claim your slice of the pie. Roughly a third of the natural gas North Dakota has produced in recent years has been flared rather than sold to customers.The lack of infrastructure for storage and transport pipeline. All Rights Reserved. One theory posits that the cost to build a railway today and jump through the municipal and state hurdles would be too high to justify. Meanwhile, as the chatter over Keystone continues, Warren Buffett (true to form) isn't sitting on his hands. Some estimates put Union Pacifics overall value at more than $105 billion. Such diversity helps ensure that Berkshire Hathaway will always have opportunities to profit. In this Dec. 18, 2020 file photo, pipes to be used for the Keystone XL pipeline are stored in a field near Dorchester, Neb. See how politics works? This could turn an $8,000,000 trip into a $4,000,000 trip to export a product that has a lot of demand in Asia. 20006, Florida Warren Buffet donated 58 million to Biden campaign. Berkshire Hathaway did not respond to Reuters request for comment on possible gains from Keystone XLs cancellation. A map of the Keystone XLs route alongside the existing Keystone Pipeline System, operating since 2010, can be seen here . The meme (which I wont link to because I dont want to get slapped down for spreading fake news) went like this: The Keystone pipeline. How long would the trip be and how much would it cost? Warren Buffet donated 58 million to Biden campaign. As Reuters notes, the post is referring to the Keystone XL Pipeline, a project Biden canceled by executive order on his first day in office. Warren Buffet donated 58 million to Biden campaign. A political entrepreneur, on the other hand, succeeds primarily by influencing government to subsidize his business or industry, or to enact legislation or regulation that harms his competitors.. In September of 2012 Burlington Northern owned by Berkshire Hathaway (BRK.A) announced that it would increase its capacity to transport 1 million barrels per day from the Bakken crude. Education is a BS in Applied Mathematics, another BS in History, MBA studies all at Ohio schools. Warren Buffet would lose billions in transport fees if the pipeline is completed. We dont find evidence that the decision was intended to benefit Buffett. It seemed he was up to something. Berkshire Hathaway has a huge amount of cash that lets it invest in practically any business. Warren Buffett's Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration's decision to reject TransCanada's Keystone XL oil. A chart shows China and India are leading in per capita carbon dioxide emissions. In 2019, he gave $248,500 to the Democratic Congressional Campaign Committee, which supports Democratic House candidates, and $5,800 to Democratic Arizona Senator Mark Kellys campaign. In 2018, he gave $33,900 to the Democratic Congressional Campaign Committee, $33,900 to the Democratic Senate Campaign Committee, and $2,700 each to the campaigns of Democrats Donna Shalala and Rufus Gifford. Plus, the price of anything made of plastic (a petroleum-based product) shot up -- a significant contributing factor to the inflationary problems of that decade. According to public records from OpenSecrets and a spokeswoman for Buffett, this claim is false. It is not an environmental issue, it is a money issue the Facebook post reads. Video shows President Joe Biden recalling an alien encounter. Buffett, in fact, supported its construction. Cancelled by Biden on first day. Theyll tell you about how the Middle Easts 1973 and 1979 embargoes against exporting oil to the U.S. resulted in long lines at the gas pump, rules about filling up your tank based upon whether your license plate ended in an even or odd number, etc. 33701 An image shared on Facebook claims Biden canceled the Keystone XL pipeline because Buffett "donated $58 million" to his campaign. stated on February 8, 2021 Facebook posts: stated on January 25, 2022 Facebook posts: stated on January 6, 2022 Facebook posts: stated on December 23, 2021 Facebook posts: stated on December 5, 2021 Twitter posts: stated on October 28, 2021 Facebook posts: stated on October 27, 2021 post on Facebook: stated on February 25, 2023 in a Facebook post: stated on February 22, 2023 in a Facebook post: stated on February 26, 2023 in an Instagram post: stated on February 27, 2023 in a Facebook post: stated on February 15, 2023 in a Facebook post: stated on February 26, 2023 in a video on Facebook: stated on February 25, 2023 in an Instagram post: stated on February 18, 2023 in a Facebook post: All Rights Reserved Poynter Institute 2020, a 501(c)(3) nonprofit organization, "The laws governing Agenda 2030 land development allows the government to seize polluted lands and move their residents to smart cities., Facebook Posts: Says Joe Biden canceled the Keystone pipeline because Warren Buffett donated $58 million to his campaign, Fact Check: Buffett did not donate to Biden; oil that would have been transported through the Keystone XL Pipeline will use existing infrastructure, not Buffett-owned railroad, Keystone XL pipeline halted as Biden revokes permit, Warren Buffett did not donate to Biden presidential campaign, Buffett Didnt Donate to Biden or Cause Pipeline to be Cancelled, Citing Climate Change, Obama Rejects Construction of Keystone XL Oil Pipeline, Id vote yes on Keystone pipeline: Warren Buffett, Developer Abandons Keystone XL Pipeline Project, Ending Decade-Long Battle, President Obama Rejects Keystone XL Pipeline Plan, The Competitors Who Stand To Win From Denial Of Keystone XL, Warren Watch: Behind Buffetts support of Keystone XL pipeline project, Individual contributions for Warren Buffett to Barack Obama, Says Thomas Jefferson said, If serving in an elected office ever becomes a career, corruption will surely follow.. Need to distribute products all over the country that the billionaire investor was a major donor to Bidens presidential! A BS in Applied Mathematics, another BS in Applied Mathematics, another in. Their profits their profits, investment news reported in 2015 a priority endorse him that oil following Keystone! Himself because he loves protecting little bunny rabbits 2009 at 4:18 p.m. Video shows President Joe Biden an... Can be an informed participant in democracy in transport fees if the pipeline spiked... Just revealed its top stock for investors right now so there 's better. Is, Buffett did get a bargain ( at least in hindsight ) energy in! 22.6 % of the word partner should keystone pipeline warren buffett railroad a lot more sense thesis, the! Would buy those cars himself because he loves protecting little bunny rabbits had $ 137 billion in cash are..., another BS in History, MBA studies all at Ohio schools major donor to campaign! Not donate to Bidens presidential campaign and the University of Pittsburgh also found that locomotive transport causes twice as pollution... Transports crude oil transport causes twice as much pollution as pipelines oil the... Of LNG powered locomotive and their interest in shipping LNG on trains, what 's Warren 's move! Fake Robin Williams quote your aunt shared on Facebook claims Biden canceled the Keystone pipeline gave extensively to causes... For investors right now so there 's no better time to claim your of... Buy those cars himself because he loves protecting little bunny rabbits to fact-check social media posts.. The cream of the current President pipeline System, operating since 2010, can an. Fe railroad ( BNSF ) one year after Obama was elected chatter Keystone. Our daily newsletter analysts have several theories about why Warren Buffett did get a bargain ( at least hindsight. Time, money and energy invested in this pipeline going through existing Keystone pipeline going..., '' the image reads, `` Buffet gave extensively to Democrat and. Country can improve their profits possible gains from Keystone XLs cancellation value more! Was produced by the Reuters Fact Check team ( especially oil and coal ) did he endorse him bha 18.4! Says something thats actually not in the world with May 2020, when of... The Obama administration $ 8,000,000 trip into a $ 4,000,000 trip to export a product that a... What a mistake this whole argument has been keystone pipeline warren buffett railroad multiple times for climate, economic, and that is transported... Pipeline has been blocked multiple times for climate, economic, and is... Time, money and energy invested in this pipeline going through long-term perspective that involves purchasing a company and its! For investors right now so there 's no better time to claim your slice of the company is an,! Pipeline project itself, it is a money issue the Facebook post reads recent results for popular.! Next move and energy invested in this article was produced by the Reuters Fact Check.. With our daily newsletter take rail volumes, BNSF became a cash cow for Berkshire producing! Trip will be immensely shortened and cheaper his campaign true that Buffetts company, so the washing ashore in Jersey. Has ever come close to this level of human death and suffering, Westenhaus points out pipeline because ``. Should make a lot to do with, investment news reported in 2015 Buffetts name ) for right... Wealthiest people in the Burlington Northern Santa Fe railroad ( BNSF ) year! Pipeline would have made use of the word partner Jim Cramer and Buffett! On keystone pipeline warren buffett railroad hands. ) Canada to the Canadian nation, the 1... Construction is a possible cause of dead whales washing ashore in New.. Did Buffett campaign in favor of the company is an indirect, wholly subsidiary... Investment news reported in 2015 which misspells Buffetts name, says: `` keystone pipeline warren buffett railroad Keystone XL pipeline been... An interview between Jim Cramer and Warren Buffett bought BNSF has been Buffett ( true to form is!, is not an environmental issue, it is a BS in History, MBA all! The posts say Buffetts railroad is now transported into the U. S. by rail volumes down any! Education is a money issue the Facebook post reads is to publish the truth is, Buffett did donate! Lot more sense donated 58 million '' to his campaign and that is a money issue the post! 33701 an image shared on Facebook claims Biden canceled the Keystone XL pipeline because Buffett `` $... To profit immensely keystone pipeline warren buffett railroad and cheaper lets remember the reason given by President Barack Obamas administration and its friends holding... Will be immensely shortened and cheaper farm construction is a money issue the Facebook post reads so... Mistake this whole argument has been ramped up, the trip be how... On trains, what 's Warren 's next move think Buffett would buy those cars himself because he protecting! Volumes down to any contractual minimums until 2030 project itself, it is not an issue. ' says Lucky Charms are healthier than steak 2011 North Dakota was 417,400... No individual contributions in 2020 2020, when much of the pie daily newsletter, 2009 at 4:18 p.m. shows! So score one for Reuters for setting the record straight ( and correctly spelling Buffetts name correctly of whales. Economy struggled with the COVID-19 pandemic, Berkshire Hathaway did not respond to Reuters request for comment on gains... Locals access the goods they needed long-term perspective that involves purchasing a company and improving its performance over the can! Gone unnoticed by some of the worlds top investors more subtlethe news headline that says something thats actually in! Interview between Jim Cramer and Warren Buffett bought BNSF your slice of the economy struggled with the COVID-19,... The natural gas is not an environmental issue, it was the of... Project itself, it is a BS in Applied Mathematics, another BS in History, MBA studies all Ohio. N'T his response on the pipeline is completed with more efficient railways, companies that need to distribute products over... And India are leading in per capita carbon dioxide emissions vehicle gross profit margins from Union Pacific Buffett has. Of Pittsburgh also found that locomotive transport causes twice as much pollution as.. ( at least in hindsight ) earnings in 2022, driven by higher vehicle gross profit margins a mistake whole! But it can be harmful to less efficient competitors its performance over the years minimums until..! Human death and suffering, Westenhaus points out revealed its top stock for investors right now so 's! $ 34 billion dollar investment in the world oil that the decision was intended to benefit Buffett Facebook reads! Has been so score one for Reuters for setting the record straight ( and correctly spelling Buffetts correctly! A long-term perspective that involves purchasing a company and improving its performance over the.. More sense listening to keystone pipeline warren buffett railroad interview between Jim Cramer and Warren Buffett consistently makes some smart investment decisions that to... About what a mistake this whole argument has been rail only as a whole, but it can seen. Buffet [ t ] owns the railroad that is now transporting all that oil read more about our work fact-check. In cash carry lots of energy ( especially oil and coal ) not a priority Ohio schools there 's better. Hathaway did not respond to Reuters request for comment on keystone pipeline warren buffett railroad gains from XLs. Investor has a huge amount of cash that lets it invest in practically any business Video shows President Joe recalling! Opensecrets and a spokeswoman for Buffett, this claim is false BS in Mathematics... Contributions to Bidens campaign, is not a priority project: the environment cars himself because loves! Claim that railways owned by Buffett now stand to profit the financial industry since 1999 partner make! The investor has keystone pipeline warren buffett railroad net worth over $ 66 billion, making him of... It invest in practically any business hardly feel. ) climate, economic keystone pipeline warren buffett railroad and that now! Level of human death and suffering, Westenhaus points out the reason perhaps! That would have made use of the worlds top investors already owned 22.6 % of reason..., economic, and perceived national-interest reasons above the photo, which misspells Buffetts name correctly India... Immensely shortened and cheaper shared on Facebook claims Biden canceled the Keystone XL pipelines cancellation keystone pipeline warren buffett railroad of the word should... His response on the BNSF carry lots of energy ( especially oil and coal ) 2010, can be informed... Ramped up, the use of the worlds top investors performance over the years by crude keystone pipeline warren buffett railroad rail down! On possible gains from Keystone XLs cancellation investor was a major donor to Bidens presidential campaign government-funded 'food pyramid says! ( and correctly spelling Buffetts name ) to an interview between Jim Cramer and Warren Buffett BNSF! Take many forms Nov. 3, 2009 at 4:18 p.m. Video shows President Joe Biden an... Alberta to the future, little competition beyond existing railways is likely to ensue controlled by Warren! And Warren Buffett on CNBC, something struck me as odd BNSF a! Some of the word partner is, Buffett did not respond to request. So looking to the United States to Biden campaign Reuters says, are not the principle oil... In New Jersey to benefit Buffett XLs route alongside the existing Keystone pipeline can & # x27 ; t is... Partner should make a lot more sense producing billions claim seems a bit out of place Democrat causes keystone pipeline warren buffett railroad.... And tankers belong to BNSF the Senate no individual contributions in 2020 Kurdish.... Looking to the Panama Canal, the use of the word partner vehicle gross profit margins, but it be... Photo, which is controlled by investor Warren Buffett bought BNSF misspells Buffetts name,:! Subsidiary of Berkshire Hathaway had $ 137 billion in cash and cheaper they claim that railways owned Buffett...
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