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Post by Savoir Faire-Demogague in NJ on Feb 4, 2012 17:57:45 GMT -5
Anyone really take a moment to think why Buffett is such a big supporter of the Prez and higher marginal taxes on the wealthy. What is the real reason why the Keystone pipeline got axed? Turns out Buffett's railroads haul coal in the region, and Buffett's purchase of Burlington/Northern, a line that hauls coal, reflects his betting that coal will continue to play a major role in the US energy picture. See below: www.sourcewatch.org/index.php?title=Railroads_and_coalBNSF Joint Line
Approximately 40% of the coal used in the United States comes from 18 immense mines in the Powder River Basin in northeastern Montana. The 103 mile “Joint Line” in Wyoming, the artery through which most Powder River Basin coal reaches the rest of the United States, is the busiest stretch of railroad in the world. The Joint Line handles over 60 loaded coal trains a day, each train more than a mile long. After it passes through the Joint Line, coal then travels over a handful of rail corridors to power plants. the Joint Line is the busiest stretch of railroad in the world. Most Powder River Basin coal originates with the Union Pacific Railroad or the Burlington Northern Santa Fe Railway.[1]
In early May 2011 it was announced that Burlington Northern Santa Fe railway would impose a new tariff for coal dust suppression on its coal train fleet. The tariff came after a March 2011 ruling by the U.S. Surface Transportation Board. The ruling capped a year long battle between the railroad and utilities over just who is responsible to pay for dust suppression along thousands of miles of rail used to connect the Powder River Basin to coal-fired power plants across the U.S. Coal customers will now have to pay an extra few million dollars per year to help control coal dust from loaded trains leaving Wyoming.[4] In November 2011 it was announced that the Surface Transportation Board was going to review whether or not the BNSF imposed rule to reduce coal dust on its lines was reasonable. The Board stated that the rules were “of broad interest to the industry.”[5]Buffett acquires Burlington Northern On November 3, 2009 it was announced that billionaire investor Warren Buffett's Berkshire Hathaway Inc. acquired 77% of Burlington Northern Santa Fe for $34 billion, prompting the Wall Street Journal to write that Buffett is betting on the continued role of coal in the U.S. energy supply. Burlington Northern transports coal that accounts for about 10% of the total U.S. energy supply, with 90% of that mined in the Powder River Basin.[6]
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Feb 4, 2012 18:51:53 GMT -5
Ah, so Buffett is just a crony capitalist. Willing to put tens of thousands of people out of work, and jack up energy prices to make another billion. This is stuff the left says wealthy conservatives do.
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Post by Savoir Faire-Demogague in NJ on Feb 4, 2012 19:38:17 GMT -5
Ah, so Buffett is just a crony capitalist. Willing to put tens of thousands of people out of work, and jack up energy prices to make another billion. This is stuff the left says wealthy conservatives do. Hee-hee-hee-hee......  |
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handyman2
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Post by handyman2 on Feb 4, 2012 20:05:30 GMT -5
I am not sure what Buffets investment of the rail line his support of higher taxes on the rich and the tar sands pipeline have to do with his intellectual dishonesty. The coal trains are going to run regardless of whether the pipeline is run or not. So what am I missing here. help me out please.
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Post by Savoir Faire-Demogague in NJ on Feb 4, 2012 20:17:18 GMT -5
I am not sure what Buffets investment of the rail line his support of higher taxes on the rich and the tar sands pipeline have to do with his intellectual dishonesty. The coal trains are going to run regardless of whether the pipeline is run or not. So what am I missing here. help me out please. Obama axed the pipeline for Buffett's support of raising taxes. Buffett wins big because his railroads haul coal, which would have been replaced by the oil from the pipeline. |
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handyman2
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Post by handyman2 on Feb 4, 2012 20:30:07 GMT -5
Sorry I dont buy that explination. makes no sense. Those coal trains haul coal all over the US. That pipeline is if built will deliver oil to the refineries to the gulf coast.
It will be a long time before those electric generating coal plants will be converting and then it most likely be gas.
Show me something that says such a deal was made with Buffett and the president.
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AgeOfEnlightenmentSCP
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Post by AgeOfEnlightenmentSCP on Feb 4, 2012 21:28:56 GMT -5
I am not sure what Buffets investment of the rail line his support of higher taxes on the rich and the tar sands pipeline have to do with his intellectual dishonesty. The coal trains are going to run regardless of whether the pipeline is run or not. So what am I missing here. help me out please. Obama axed the pipeline for Buffett's support of raising taxes. Buffett wins big because his railroads haul coal, which would have been replaced by the oil from the pipeline. Those trains also haul the oil itself. |
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Deleted
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Post by Deleted on Feb 4, 2012 21:36:55 GMT -5
Paul is correct. Although I like the OP. I don't think it's true, but it's not like the anti-oil crowd has ever cared about getting the truth out....
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tallguy
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Post by tallguy on Feb 4, 2012 21:44:03 GMT -5
Sorry I dont buy that explination. makes no sense. Since when has that mattered to many here? Buffett's intellectual dishonesty.... is dwarfed by that of many posters on this board. Or thread. |
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Post by Deleted on Feb 5, 2012 0:04:13 GMT -5
So what am I missing here. help me out please. Buffet will be making more money because the a likely alternative way to move the oil is through Buffet's rail line. The Obama administration’s original decision to postpone Keystone approval until after the 2012 elections followed loud opposition on environmental grounds led by an anti-pipeline group called “Bold Nebraska”. This occurred despite three previous years of State Department environmental impact studies addressing likely risks and reasonable alternatives that determined it would have “no significant impacts”.
The BOLD Nebraska campaign was largely funded by Dick Holland, a close Buffett friend and business associate since the 1960s and an original Berkshire Hathaway investor. The two men share a similar political philosophy and are strong Democratic Party contributors. Prominent BOLD Nebraska cheerleaders are global warming alarmist James Hansen of NASA, and Hollywood celebrity Daryl Hannah. www.forbes.com/sites/larrybell/2012/01/26/obamas-keystone-rejection-may-provide-a-buffett-bonanza/ |
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usaone
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Post by usaone on Feb 5, 2012 1:21:26 GMT -5
The pipe line is taking the oil to the gulf of Mexico.after that it put on tankers and exported.
Not sure what that has to do with Buffett?
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Deleted
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Post by Deleted on Feb 5, 2012 8:40:30 GMT -5
If Buffett were truly running the show, wouldn't he have also put the kibosh on the natural gas investments from the SOTU?
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TD2K
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Post by TD2K on Feb 5, 2012 23:33:49 GMT -5
Obama axed the pipeline for Buffett's support of raising taxes. Buffett wins big because his railroads haul coal, which would have been replaced by the oil from the pipeline.
Coal's primary role in the US is electrical generation. Oil's primary role is the production of transportation fuels. Different areas.
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floridayankee
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Post by floridayankee on Feb 6, 2012 13:23:52 GMT -5
Anyone really take a moment to think why Buffett is such a big supporter of the Prez and higher marginal taxes on the wealthy. What is the real reason why the Keystone pipeline got axed? Turns out Buffett's railroads haul coal in the region, and Buffett's purchase of Burlington/Northern, a line that hauls coal, reflects his betting that coal will continue to play a major role in the US energy picture. Coal is primarily used for electricity production. Oil is primarily used for transportation. I don't see what impact the keystone pipeline would have on the coal mining business. ETA: I see TD beat me to this on already..... |
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Post by Savoir Faire-Demogague in NJ on Feb 6, 2012 14:33:58 GMT -5
Coal is primarily used for electricity production. Oil is primarily used for transportation. I don't see what impact the keystone pipeline would have on the coal mining business.
Oil from Canada would be transported via pipeline instead of train.
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floridayankee
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Post by floridayankee on Feb 6, 2012 14:41:47 GMT -5
Coal is primarily used for electricity production. Oil is primarily used for transportation. I don't see what impact the keystone pipeline would have on the coal mining business. Oil from Canada would be transported via pipeline instead of train. <- from your OP. Still not seeing any link between Keystone and coal trains, but I do admit, I ran out of tinfoil cooking for 180 people Saturday evening.  |
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TD2K
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Post by TD2K on Feb 6, 2012 21:46:05 GMT -5
 Here you go |
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