http://www.americantradition.org/?tag=obama-keystone
But it turns out there may be more than a political payoff.
“Killing the Keystone XL pipeline may help one of the world’s richest men get richer. North Dakota’s booming oil fields will now grow more dependent on a railroad the president’s economic guru just bought,” Investor’s Business Daily write.
“Interestingly, another billionaire, Obama economic inspiration Warren Buffett, stands to benefit from the Keystone XL pipeline delay,” writes IBD in its Nov. 16 editorial “Billionaire Buffett’s Bakken Boom.”
“As oil production ramps up in the Bakken fields of North Dakota, plans to use the pipeline to transport it have been dashed. As a result, North Dakota’s booming oil producers will have to rely even more on the Burlington Northern Santa Fe (BNSF) railroad, which Buffett just bought, to ship it to refineries.
“Buffett’s Berkshire Hathaway has agreed to buy Burlington Northern Santa Fe in a deal valuing the railroad at $34 billion. Berkshire Hathaway already owns about 22% of Burlington Northern, and will pay $100 a share in cash and stock for the rest of the company,” IBD writes.
It’s Buffett’s largest-ever investment – so you know he’s pulling out all the stops to make money off it.
Now, I love profit.
But I’m a dedicated free marketer.
Using the power of the Oval Office to eliminate your campaign funders’ competition, knowing full well they’ll share the profits with your re-election campaign, that is crony capitalism.”
