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Warren Buffett Profits Hugely from Keystone Decision

Written by on | Modified 10 Nov, 2015 | Views 585

Instead of the benefiting the nearly 20,000 people that would have been employed from the pipeline construction, Obama’s denial is benefiting a man with a net worth of $44 billion.


The Keystone XL is a pipeline which would enable 700,000 barrels of crude oil to be pumped per day from Canada to Texas. What does this have to do with Buffet? With the permit denied, the only option left to transport the oil is via railroad. One of the key railroads which will be running this oil is the Burlington Northern Santa Fe, a railroad which Buffett acquired in 2009. As Krista York-Wooley, a spokeswoman for BNSF, put it, if Keystone XL “doesn’t happen, we’re here to haul.”

Instead of the benefiting the nearly 20,000 people that would have been employed from the pipeline construction, Obama’s denial is benefiting a man with a net worth of 44 billion dollars who also happens to be a large Obama supporter.

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