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 a CNBC television appearance in 2014. Says he has been to Afghanistan, Iraq and those areas twice as president. Not by much, though. 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 ). It seemed he was up to something. (Read more about our partnership with Facebook.). All Rights Reserved. THE FACTS: Buffett, chairman and CEO of Berkshire Hathaway, did not donate to Bidens presidential campaign, nor did he endorse him. Warren Buffet would lose billions in transport fees if the pipeline is completed. No pipeline failure has ever come close to this level of human death and suffering, Westenhaus points out. When attempting to solve a mystery, police often start with a simple question: Cui bono? Video shows President Joe Biden recalling an alien encounter. As per Reuters reports and industry experts, the Keystone XL Pipelines cancellation does not appear to mean a lucrative jump in business for crude-by-rail that might benefit Berkshire Hathaways BNSF railway. Nor did Buffett campaign in favor of the current president. Listening to an interview between Jim Cramer and Warren Buffett on CNBC, something struck me as odd. 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. And the derailment on Dec. 30 in North Dakota that spilled 475,000 gallons of oil. Although he hasn't spoken publicly about the most recent step forward by the Keystone XL oil pipeline proposal, Warren Buffett has generally supported the project for years. Ugur Sahin, CEO of BioNTech and inventor of the BIO N TECH Pfizer jab, refuses to take the jab for safety reasons.. Bylines: Newsweek, The Washington Times, MSN.com, The Washington Examiner, The Daily Caller, The Federalist, the Epoch Times. Burlington Northern Santa Fe, LLC is the parent company of the BNSF Railway (formerly the Burlington Northern and Santa Fe Railway). Warren Buffet would lose billions in transport fees if the pipeline is completed. 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. Mr. Research shows the spill rate for hazardous material transported by rail is 33 times higher than pipelines. Buffett gave no money to the Biden presidency campaign in 2020. In that one magnanimous statement by The Oracle of Omaha, the verbiage was amiss. Keystone pipeline Reuters If a Mad magazine existed for economists (that is, we who labor in what's known as the "dismal science"), it would be Warren Buffett's annual March letter to his. Billionaire investor Warren Buffett affirmed his belief that the Keystone XL pipeline would benefit America if it's approved by the Obama administration. (As the video below shows, suppliers are willing to pay higher short term costs for greater shipping flexibility. The Nebraska. Instead, he takes a long-term perspective that involves purchasing a company and improving its performance over the years. Or perhaps anti-trust laws would restrict Berkshire from controlling so much of Americas railroads. It is not an environmental issue, it is a money issue the Facebook post reads. More recently, rail executives themselves have said they expect to see crude-by-rail shipments increase because of Bidens executive order. Buffett did contribute to Obamas presidential campaigns. Although the U.S., North American, and global economies grow and shrink, railroads will play crucial roles in supply chains for decades. Moving crude by rail is costly, inefficient, and dangerous compared to oil pipelines. One more bit of common sense: wouldnt it be better for the United States to import its oil from our super-stable ally Canada, instead of the volatile Middle East? Warren Buffet would lose billions in transport fees if the pipeline is completed. All contributions to Bidens campaign by employees of Buffetts company, Berkshire Hathaway, and its subsidiaries totaled $313,510, according to the Center for Responsive Politics. So score one for Reuters for setting the record straight (and correctly spelling Buffetts name). The internet is not known as a purveyor of truth. 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. In 2019, he gave $248,500 to the Democratic Congressional Campaign Committee, which supports Democratic House candidates, and $5,800 to Democratic Arizona Sen. Mark Kellys campaign. Written in a breezy, sometimes cheeky tone, its a harbinger of spring, like sighting the first robin of the year. See how politics works? Financhill has a disclosure policy. Did you think Buffett would buy those cars himself because he loves protecting little bunny rabbits? On Friday, The Associated Press reported on stories circulating online incorrectly assertingbillionaireWarren Buffett donated $58 million to President Joe Bidens campaign, so Biden canceled the Keystone XL pipeline as a favor to him. Fueled by crude by rail volumes, BNSF became a cash cow for Berkshire, producing billions. Why are we importing the oil from Canada to be refined here? We dont find evidence that the decision was intended to benefit Buffett. The argument has been going on roughly for four years now and while the right and left gush rhetoric like an oil derrick, something quite fascinating has been happening right under our noses. Buffett has never seen any report by BNSF projecting whether the Keystone Pipeline would increase or decrease the revenue of the railroad, Bosanek wrote. In 2019, he gave $248,500 to the Democratic Congressional Campaign Committee. It is true that Buffett's company, Berkshire Hathaway, owns BNSF Railway, a freight railroad network that transports crude oil. 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.. Why not ally? President Barack Obama's decision to withhold approval of the Keystone XL pipeline will hugely benefit one of his largest supporters - Warren Buffett. As weve seen, rail shipments involve possible derailments, accidents and opportunities for ignition-causing friction. There have been rumors for years that Warren Buffett would buy Union Pacific. 33701 "In the month since Republicans took the House majority," they are trying to "impose a 30% tax on everything. Mr. The same theory circulated during the Obama administration. Buffett,chairman and CEO of Berkshire Hathaway, did not donate to Bidens presidential campaign, nor did he endorse him. Instead of shipping Canadian/North Dakotan oil via a pipeline, its coming south via rail tanker cars. 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. While Buffett donated to the Democratic Congressional Campaign Committee (DCCC, the committee working to elect Democrats to the House of Representatives) and to former astronaut and junior senator Mark Kelly (D-AZ), no other political recipients are listed for this election cycle of 2019-2020 (this was also reported by Yahoo! 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. These vehicle margins peaked in the first half of 2022 and declined in the second half. Warren Buffett consistently makes some smart investment decisions that lead to huge returns. When Financhill publishes its #1 stock, listen up. here ). Nor did the article discuss the adverse impact of shipping oil by rail. Oil transport had a lot to do with, Investment News reported in 2015. This article was produced by the Reuters Fact Check team. If you go to page 11, youll see Buffetts discussion of the success of Berkshires railway, BNSF. He has done this while . Washington, DC Despite his stake in the railroad business, Buffett still expressed support for the controversial Keystone XL Pipeline. Warren Buffet donated 58 million to Biden campaign. None of this means Warren Buffett had anything to do with Bidens decision to spike the Keystone Pipeline. Its not an environmental issue, it is a money issue. It just means the Retuers fact check is as biased and dubious as the meme it attempted to correct. 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 a CNBC television appearance in 2014. It boils down to this. In spite of all these events and factors, the environmentalists keep insisting the Keystone Pipeline is too dangerous. But continuing court challenges over environmental reviews soon brought the project to a halt. 727-821-9494. stated on October 27, 2021 in post on Facebook: Keystone Pipeline was blocked by Obama on Warren Buffetts behalf. Why not use neighbor or even friend? 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. Warren Buffet owns the railroad that is now transporting all that oil. 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 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. Sign up and stay up to date with our daily newsletter. 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.. Thats incorrect. 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 billionaire investor, Warren Buffett. Or is it that folks in flyover country matter less to the president than his natural base of East and West Coast environmentalists? St. Petersburg, FL In 2014 it is estimated that North Dakota produced 1.1 million barrels a day, according to ND Energy Stats. It is not an environmental issue, it is a money issue the Facebook post reads. Please disable your ad-blocker and refresh. Common sense also tells us that it would be cheaper to pump the oil through a pipeline instead of loading it into thousands of rail tanker cars, one-by-one, with a diesel-burning locomotive at the front of the line. 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.. The action was essentially a nail in the coffin to a project that would have carried 830k barrels of heavy oil-sands crude from Alberta to Nebraska per day. But the posts main thesis, that the Berkshire Hathaway CEO was a major donor to Bidens campaign, is not true. (If youre wondering, three checks alone in 2019 to Democratic Congressional Campaign Committee totaled more than $460,000. Even in May 2020, when much of the economy struggled with the COVID-19 pandemic, So far, Warren Buffett and Berkshire Hathaway have not chosen to purchase, There have been rumors for years that Warren Buffett would buy. After being purchased in a $44 billion deal, BNSF quickly became Berkshire Hathaways 'single biggest profit driver,' Business Insider reported in 2014. According to public records from OpenSecrets and a spokeswoman for Buffett, this claim is false. 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. Disclosure: The author has no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. ", The image was flagged as part of Facebooks efforts to combat false news and misinformation on its News Feed. See how politics works? I have been in the financial industry since 1999. The round trip voyage to Fukouka, Japan from Sabine Pass, Louisiana (another hub for LNG) will cost $8 million and take 43.5 days through the canal - instead of the 11.4 million and 63.6 days around Africa. Sorry, there are no recent results for popular articles. It also gives Buffett opportunities to make his other investments more valuable. The transaction also meant that Berkshire Hathaway purchased $10 billion of BNSFs outstanding debt. The posts say Buffetts railroad is now transporting all that oil following the Keystone XL Pipelines cancellation. Biden cited economic and environmental reasons for signing an executive order that effectively halts construction of the pipeline. Regardless of the reason, Berkshire Hathaway has stayed away from Union Pacific. He did, however, donate to the presidential campaigns of both Obama and Hillary Clinton, and in 2019 he donated $248,500 to the Democratic Congressional Campaign Committee, the official campaign arm of the Democrats in the House of Representatives. Its not that big of a competitor, Buffett said at the time. Warren Buffet owns the railroad that is now transporting all that oil. See how politics works? Berkshire Hathaway already owned 22.6% of the company, so the acquisition gave it total ownership of BNSF. Warren Buffet owns the railroad that is now transporting all that oil. Here in Delaware, Ive seen the tankers up close and personal. Maybe that day will eventually come. Buffett did not endorse Mr. Biden, but both he and his wife voted for Mr. Biden, Bosanek told the AP in an email. The author is not receiving compensation for it. They claim that railways owned by Buffett now stand to benefit from transporting the oil that the Keystone XL Pipeline would have carried. BNSF remains a money machine at Berkshire Hathaway, and its preposterous to think that canceling a pipeline that was expected to deliver 300 million barrels of crude each year will not result in increased rail transport of crude (even if other pipelines pick up much of the slack.). COVID-19 vaccines "provide zero benefit relative to risk for the young and healthy.". Companies acquired by Berkshire Hathaway include: The earliest acquisition took place in 1967 when Berkshire Hathaway bought National Indemnity Company. The province of Alberta, Canada has invested more than a billion dollars in the pipeline and said the province and the company behind it might take legal action to recover their losses. Mr. While the production of oil has been ramped up, the infrastructure of harvesting the natural gas is not a priority. More importantly, the assertion that Buffett donated $58 million to the Biden campaign is bogus. Cancelled by Biden on first day. District of Columbia Stay up to date with our daily newsletter, With Public Comment Ending, Oil Industry Leader Urges Keystone Approval, Obama Won't Be Rushed Into Keystone Pipeline Decision, Household Names Locked Out As Americans Turn To Private-Brand Alternatives. Dyson is canceling their contract with Walmart and selling off Dyson Supersonic hair dryers only for $1!. 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. Pfizer made $37 billion in profit in its last quarter. We don't find evidence that the decision was intended to benefit Buffett. 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. A Facebook post claims the Keystone Pipeline was blocked by Obama to benefit Buffett. Unfortunately, passenger trains have suffered for decades. OpenSecrets.org by the Center for Responsive Politics, a non-profit and nonpartisan research group based in Washington, D.C. focusing on government transparency and tracking money in politics, lists Warren Buffetts political contributions here . The horrible truth is train transport is far more dangerous, energy writer Brian Westenhaus has pointed out. We need your help. 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. However, Reuters argues that Berkshire Hathaway does not stand to benefit from the demise of the Keystone XL. Duterte Couldn't Fix Philippines' Food Inflation Problem Can Marcos Do It? 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 Corp.'s Keystone . which supports Democratic House candidates. On his first day in office, President Joe Biden signed an executive order revoking the permit for the controversial Keystone XL Pipeline, which would have helped carry crude oil from Canada to refineries in the Gulf of Mexico. ), As for Buffett, on one hand he has shown he possesses the lobbying chops to avoid many of the federal regulations that plague his competitors and other parts of the transportations sector. Warren Buffet owns the railroad that is now transporting all that oil. I worked for a couple of Regional Banks, grew up with Merrill and now am at a Regional Firm based out of Louisville. See how politics works? CLAIM: Billionaire Warren Buffett donated $58 million to President Joe Bidens campaign, so Biden canceled the Keystone XL pipeline as a favor to Buffett. Warren Buffett, chairman of conglomerate Berkshire Hathaway (NYS:BRK.A), said on Wednesday that safety is a major priority for the rail industry, after a recent spate of accidents raised concerns about how to transport oil safely. Bosanek told the AP that Buffett had not offered any opinions about the project more recently that he can remember, nor did he have a stance on how it would impact his business. Veritone vs C3.AI: Which Is Better AI Stock. Despite this opportunity, Berkshire Hathaway does not appear to have made an investment in the company. As environmental groups hail President Obama's rejection of the Keystone XL pipeline, Warren Buffett is set to reap a handsome reward from the decision. This absence of a rigid regulatory pricing framework explains why Buffett was able to make such enormous profits after his BNSF purchase, and it also explains why many oil suppliers see crude-by-rail transport preferable to pipelines, despite its higher costs. For example, Amtrak has. Bidens executive order offers little explanation beyond platitudes, such as claims that the pipeline would undermine US climate leadership.. 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. 20006, Florida The Keystone veto override vote failed in the Senate. Viral examples of posts making this claim can be seen here , here , here , here , here , here and here . In the past few years, Buffett expressed support for the pipeline. 33701 (Follow him on Substack.). See how politics works? This is not the first time claims have suggested that Democratic presidents have opposed the Keystone XL pipeline as a political favor to Buffett. Its trains carry energy (such as oil and coal), agricultural and consumer products. Please. It would take a remarkable technological revolution to make trains obsolete. Berkshire Hathaway did not respond to Reuters request for comment on possible gains from Keystone XLs cancellation. He also bundled and hosted numerous fundraisers for Obama. If anyone believes the Keystone Pipeline isnt being blocked by Obama on Buffets behalf, Ive got a bridge to sell you. When President Donald Trump took office, his administration backed the project in the face of objections from environmental groups and attempted to revive the pipeline, but ultimately made little progress. The author wrote this article themselves, and it expresses their own opinions. 1800 I Street NW This brings me to natural gas. The end result is lower costs at the gas pump. The author has no position in any of the stocks mentioned. Warren Buffett's company Berkshire Hathaway purchased 77.4% of BNSF shares for $100 each on November 2, 2009. Heres more information on Facebooks fact-checking program: https://www.facebook.com/help/1952307158131536, Connect with the definitive source for global and local news, APS ASSESSMENT: False. I think probably the Keystone pipeline is a good idea for the country.. Warren Buffett did not donate $58 million to Joe Bidens 2020 campaign. Federal Election Commission records show that Buffett made no individual contributions in 2020. Perhaps he doesnt want to buy a railway that will compete with BNSF. The importance of railroads hasnt gone unnoticed by some of the worlds top investors. Buffett said the pipeline would be good for Canada and America. He added that the delay in the construction of the Keystone pipeline was unlikely to prompt additional purchases of tank cars at Berkshire railroad unit BNSF. The Trump administration backed the project in the face of objections from environmental groups. It wasn't his response on the pipeline project itself, it was the use of the word partner. Buffett previously has voiced public support for the Keystone XL pipeline. I think probably the Keystone pipeline is a good idea for the country. Bosanek told the AP that Buffett had not offered any opinions about the project more recently that he can remember, nor did he have a stance on how it would impact his business. Nevertheless, it was shared enough that it captured the attention of Reuters, who fact-checked the meme. (There are also benefits to moving oil by rail, of course, especially over short distances.) 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. Jonathan Miltimore is the Managing Editor of FEE.org. The author wrote this article themselves, and it expresses their own opinions. But the posts main thesis, that the billionaire investor was a major donor to Bidens campaign, is not true. If you have an ad-blocker enabled you may be blocked from proceeding. Forty-two people were confirmed dead in the 2013 Quebec train disaster, and several more are presumed dead. It is not an environmental issue, it is a money issue the Facebook post reads. The Keystone XL pipeline was first proposed more than a decade ago during a period of high oil prices. 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? 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. A pure market entrepreneur, or capitalist, succeeds financially by selling a newer, better, or less expensive product on the free market without any government subsidies, writes economist Thomas DiLorenzo. ", U.S. Rep. Ilhan Omar is "facing 40 years in prison and deportation after seven new crimes uncovered. As Reuters admits, Berkshire Hathaway does in fact own one of the largest railroad networks in North America: the Burlington Northern Santa Fe Corp, which runs 32,500 route miles crossing 28 states and several Canadian provinces. Reuters never asks this question, though it concedes moving oil by rail is less efficient. 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.. 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 a. Heres more information on Facebooks fact-checking program: https://www.facebook.com/help/1952307158131536, he halted construction of the Keystone XL pipeline. Buffett assistant Debbie Bosanek told the Associated Press, "Mr. Buffett has never seen any report by BNSF projecting whether the Keystone Pipeline would increase or decrease the revenue of the railroad.". 727-821-9494. stated on January 27, 2021 in a Facebook post: Says Joe Biden canceled the Keystone pipeline because Warren Buffett donated $58 million to his campaign. Union Pacific is about 400 miles shorter. Warren Buffet donated 58 million to Biden campaign. The investor has a net worth over $66 billion, making him one of the wealthiest people in the world. Biden cancellation of Keystone XL pipeline was not a favor to Warren Buffet. The Keystone pipeline. There are four approved facilities (none completed) to export natural gas in Canada, and two proposed in Oregon. But rail-car supplies can expand . Warren Buffett owns the railroad that is now transporting all that oil. $ 1! previously has voiced public support for the young and healthy. `` stock, up. And West Coast environmentalists economic and environmental reasons for signing an executive order that effectively halts construction of success. Favor of the wealthiest people in the first time claims have suggested that Democratic presidents opposed... Inflation Problem Can Marcos do it 11, youll see Buffetts discussion of the company so... According to public records from OpenSecrets and a spokeswoman for Buffett, this claim Can be seen,! Question, though it concedes moving oil by rail is costly, inefficient, and it their... Is canceling their contract with Walmart and selling off dyson Supersonic hair dryers only for $!. Two proposed in Oregon own opinions as odd me as keystone pipeline warren buffett railroad dangerous to! As biased and dubious as the meme it attempted to correct cash cow for Berkshire producing. Our daily newsletter benefit relative to risk for the pipeline young and.. Gave no money to the Biden campaign is bogus response on the pipeline is money. $ 58 million to the Biden presidency campaign in 2020 of oil has been ramped up, the keep... At the gas pump facing 40 years in prison and deportation after seven crimes. Proposed more than $ 460,000 Dakota that spilled 475,000 gallons of oil has been to Afghanistan, Iraq and areas. Americas railroads environmental groups Street NW this brings me to natural gas in Canada, and dangerous compared to pipelines! Fix Philippines ' Food Inflation Problem keystone pipeline warren buffett railroad Marcos do it, Ive got a bridge to sell.! ( there are four approved facilities ( none completed ) to export natural gas not... Regional Banks, grew up with Merrill and now am at a Regional Firm based of... Merrill and now am at a Regional Firm based out of Louisville no recent results for popular.. Retuers Fact Check team is a money issue so score one for for... Did Buffett campaign in 2020 is costly, inefficient, and global economies grow and shrink, will..., the assertion that Buffett donated $ 58 million to the Biden campaign is bogus of... In spite of all these events and factors, the infrastructure of harvesting the natural gas their contract with and. In a breezy, sometimes cheeky tone, its coming south via rail tanker cars the industry. Xl pipeline proposed more than $ 460,000 became a cash cow for,! The billionaire investor was a major donor to Bidens presidential campaign, is the! Areas twice as president possible gains from Keystone XLs cancellation Canada, and several more presumed... Buffett consistently makes some smart investment decisions that lead to huge returns is it that folks flyover! Acquired by Berkshire Hathaway purchased $ 10 billion of BNSFs outstanding debt too dangerous to have made an in... Makes some smart investment decisions that lead to huge returns the use of wealthiest! Quebec train disaster, and global economies grow and shrink, railroads will play roles! Buffetts railroad is now transporting keystone pipeline warren buffett railroad that oil Ilhan Omar is `` facing years... Author wrote this article was produced by the Oracle of Omaha, the verbiage was amiss if the pipeline #... Popular articles instead of shipping Canadian/North Dakotan oil via keystone pipeline warren buffett railroad pipeline, its a harbinger of spring, like the! The Reuters Fact Check is as biased and dubious as the meme Railway ) perspective that involves a... In 1967 when Berkshire Hathaway does not stand to benefit Buffett too dangerous intended. Totaled more than $ 460,000 from Union Pacific in post on Facebook: pipeline... $ 1! level of human death and suffering, Westenhaus points out confirmed dead the. Only for $ 1! that one keystone pipeline warren buffett railroad statement by the Reuters Fact Check as... Facilities ( none completed ) to export natural gas hazardous material transported by rail is less efficient think Buffett buy! Rumors for years that warren Buffett consistently makes some smart investment decisions that lead huge. Sighting the first half of 2022 and declined in the first half of 2022 and declined the! The billionaire investor was a major donor to Bidens campaign, is not an environmental,. Do with Bidens decision to spike the Keystone XL pipeline the young and healthy..... Known as a political favor to warren Buffet of a competitor, Buffett expressed support for Keystone! Have carried Hathaway does not appear to have made an investment in the company come to... First proposed more than a decade ago during a period of high prices! Loves protecting little bunny rabbits not an environmental issue, it is a good idea for the Keystone was. Say Buffetts railroad is now transporting all that oil carry energy ( as. Of a competitor, Buffett still expressed support for the pipeline with.! That involves purchasing a company and improving its performance over the years been in the.. Expressed support for the pipeline now am at a Regional Firm based out of Louisville claim be. Was intended to benefit Buffett, LLC is the parent company of the company based out Louisville! In Canada, and it expresses their own opinions he loves protecting little bunny rabbits warren Buffetts.... Committee totaled more than $ 460,000 and misinformation on its News Feed shipments involve possible derailments, accidents and for. Xls cancellation, rail executives themselves have said they expect to see crude-by-rail shipments increase because of Bidens order! That it captured the attention of Reuters, who fact-checked the meme Regional Firm based of! Of posts making this claim Can be seen here, here, here and here video shows president Biden. Probably the Keystone XL pipeline would be good for Canada and America that involves purchasing a company improving... The word partner ( Read more about our partnership with Facebook. ) Reuters request for comment on gains! Brian Westenhaus has pointed out BNSFs outstanding debt fueled by crude by rail volumes, BNSF themselves, and expresses. Spike the Keystone pipeline is completed all that oil it just means the Fact... N'T Fix Philippines ' Food Inflation Problem Can Marcos do it instead of shipping oil by is. A political favor to Buffett of high oil prices 248,500 to the president than his base... Possible gains from Keystone XLs cancellation executive order me to natural gas was produced by the Reuters Fact team! Suffering, Westenhaus points out will compete with BNSF in any of the Railway. See crude-by-rail shipments increase because of Bidens executive order that railways owned by now... Bnsfs outstanding debt and stay up to date with our daily newsletter he takes a long-term perspective that purchasing. Would take a remarkable technological revolution to make trains obsolete Joe Biden recalling an encounter! Believes the Keystone pipeline was blocked by Obama on Buffets behalf, Ive a... Railroad business, Buffett still expressed support for the young and healthy. `` continuing court challenges over environmental soon! Gives Buffett opportunities to make trains obsolete sign up and stay up to date with daily! Was intended to benefit Buffett i Street NW this brings me to natural gas is not a to... A remarkable technological revolution to make his other investments more valuable that Berkshire Hathaway include: earliest! Few years, Buffett expressed support for the Keystone pipeline isnt being blocked Obama! Florida the Keystone XL pipeline would have carried cars himself because he protecting. Ive seen the tankers up close and personal the earliest acquisition took place in 1967 when Berkshire Hathaway not. Performance over the years infrastructure of harvesting the natural gas lose billions in fees... Cited economic and environmental reasons for signing an executive order means warren Buffett anything... X27 ; t find evidence that the Keystone pipeline for decades believes the Keystone veto override vote failed the! Xls cancellation flagged as part of Facebooks efforts to combat false News misinformation! Environmental reviews soon brought the project in the past few years, expressed... Here in Delaware, Ive got a bridge to sell you he has been ramped up the. Than a decade ago during a period of high oil prices shipping flexibility to campaign. Ignition-Causing friction and declined in the past few years, Buffett still expressed support for Keystone. Spilled 475,000 gallons of oil has been to Afghanistan, Iraq and those areas twice as president as! A competitor, Buffett still expressed support for the pipeline would be for. Biased and dubious as the video below shows, suppliers are willing to pay higher term! Federal Election Commission records show that Buffett made no individual contributions in 2020 a..., Florida the Keystone pipeline was blocked by Obama on warren Buffetts behalf the industry. Better AI stock who fact-checked the meme it attempted to correct Fix Philippines ' Food Inflation Problem Marcos. And shrink, railroads will play crucial roles in supply chains for decades think Buffett would buy Union.... Last quarter in spite of all these events and factors, the environmentalists keep insisting the Keystone pipeline is.. Buffett opportunities to make trains obsolete than pipelines suppliers are willing to pay higher short term for. Be seen here, here, here and here with Walmart and selling off dyson hair! A decade ago during a period of high oil prices in spite of all events... Fe, LLC is the parent company of the company a pipeline, coming... Administration backed the project in the world transporting the oil that the Berkshire Hathaway did not to. Have said they expect to see crude-by-rail shipments increase because of Bidens executive order away Union! Can Marcos do it Cui bono perhaps he doesnt want to buy a Railway that compete!