APS ASSESSMENT: False. During this year, 110.2 million barrels of crude oil were transported from Canada to the United States by rail ( here ), meaning only about 8% of the years imports from Canada traveled by rail. Buffett said the pipeline would be good for Canada and America. You may also associate Buffett with his acquisition of around 18 million shares of Suncor Energy (NYSE: SU) in August 2013. Most of the oil that would have been transported by the now-cancelled Keystone XL Pipeline will likely use existing and new pipeline infrastructure, not railways. 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. It boils down to this. No doubt BNSF will choose its tanker vendor carefully and with all due diligence; however, its worth knowing that Buffetts corporate empire includes the Union Tank Car Company which makes (surprise!) Buffett has expressed his support for the Keystone XL Pipeline, even though it would have competed against his Burlington Northern railroad, which transports crude. Sorry, there are no recent results for popular collections. Oil transport had a lot to do with, Investment News reported in 2015. 20006, Florida Mr. 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. Companies acquired by Berkshire Hathaway include: The earliest acquisition took place in 1967 when Berkshire Hathaway bought National Indemnity Company. COVID-19 vaccines "provide zero benefit relative to risk for the young and healthy.". oil. The importance of railroads hasnt gone unnoticed by some of the worlds top investors. Cancelled by Biden on first day. While Washington has been fighting over the exchange student for four years, our grownup knockout neighbor has just graduated first in her class from Harvard Medical School. 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. Remember at this point North Dakota was still only producing 700,000 barrels a day. The author is not receiving compensation for it. ), The false information can take many forms. 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. Did you think Buffett would buy those cars himself because he loves protecting little bunny rabbits? Its not an environmental issue, it is a money issue. This caused me to think about what a mistake this whole argument has been. You have permission to edit this article. All rights reserved. Mr. Its important to consider that buying BNSF does more than help Berkshire Hathaway earns returns from within the railway industry. here ). Union Pacific is about 400 miles shorter. In short, rail infrastructures cannot compete with existing pipelines to transport oil at the rate the United States does. We don't find evidence that the decision was intended to benefit Buffett. All quotes delayed a minimum of 15 minutes. Translation: it doesnt take much friction to blow up a tanker car full of Bakken oil. "In the last 2 election cycles," the image reads, "Buffet gave extensively to Democrat causes and candidates. No pipeline failure has ever come close to this level of human death and suffering, Westenhaus points out. Biden said he issued an executive order canceling the pipelines construction permit for economic and environmental reasons. Canada is the primary supplier of foreign oil to the United States. The U.S. is also still poised to import record amounts of Canadian oil in the coming years, and several of the lines carrying that crude are in the midst of expansions (more detail on these in a Reuters report here ). And the derailment on Dec. 30 in North Dakota that spilled 475,000 gallons of oil. This was roughly a fifth of the oil being produced in Alberta, Canada, where the Keystone Pipeline is to originate before eventually taking the oil to refineries on the Gulf Coast. (Follow him on Substack.). 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. 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 . In just a few short years BNSF had become Berkshire Hathaways single biggest profit driver, Business Insider reported. Our only agenda is to publish the truth so you can be an informed participant in democracy. RT @Frida_Goman: Biden canceled the Keystone Pipeline because it was unsafe. Railroads played a crucial role in Americas development. One reason this claim seems a bit out of place? Burlington Northern Santa Fe, LLC is the parent company of the BNSF Railway (formerly the Burlington Northern and Santa Fe Railway). 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. Analysts have several theories about why Warren Buffett bought BNSF. It seemed he was up to something. The 1,700-mile pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast. The Nebraska. Buffett has never seen any report by BNSF projecting whether the Keystone Pipeline would increase or decrease the revenue of the railroad, Bosanek wrote. Says he has been to Afghanistan, Iraq and those areas twice as president. 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. CLAIM: Billionaire Warren Buffett donated $58 million to President Joe Bidens campaign, so Biden canceled the Keystone XL pipeline as a favor to Buffett. I think probably the Keystone pipeline is a good idea for the country.. At the time, Obama did reject a permit for Keystone XL, arguing in his Nov. 6, 2015, statement that the pipeline would not lower gas prices, increase the nations energy security or make a meaningful long-term contribution to the U.S. economy. The Keystone XL pipeline was first proposed more than a decade ago during a period of high oil prices. 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. Warren Buffet owns the railroad that is now transporting all that oil. Choosing the largest railroad company in the United States depends on how you measure a companys size. Warren Buffet [t] donated 58 million to Biden campaign. As president, Obama rejected a permit for the pipeline, arguing that the project would not lower gas prices or increase the nations energy security. "I think probably the Keystone Pipeline is a good idea from the country," he . 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. False. Biden cancellation of Keystone XL pipeline was not a favor to Warren Buffet. Cahill told Reuters that after the cancellation, other pipelines will come online and crude exports by rail will continue to be a last resort., The North American Upstream team at energy consultants Wood Mackenzie sent Reuters findings from the companys North American Crude Market Service report which agreed with this prediction. 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. This post may contain affiliate links or links from our sponsors. Reuters assured us this is not the case with Buffett. Warren Buffett BNSF Acquisition. Most posts feature an image of pipeline construction alongside text reading: The Keystone pipeline. In spite of all these events and factors, the environmentalists keep insisting the Keystone Pipeline is too dangerous. 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. ", U.S. Rep. Ilhan Omar is "facing 40 years in prison and deportation after seven new crimes uncovered. 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. Warren Buffet would lose billions in transport fees if the pipeline is completed. We are concentrating on the wrong pipeline. Bloomberg News stated it was the 10th such derailment in North America in the past 12 months. Warren Buffet donated 58 million to Biden campaign. See how politics works? Biden cited economic and environmental reasons for signing an executive order that effectively halts construction of the pipeline. See how politics works? Berkshire noted that . A Facebook post claims the Keystone Pipeline was blocked by Obama to benefit Buffett. To prevent losses, some entrepreneurs may actually seek to use government to prevent efficiency, thus protecting their market share. That 65 percent includes 51 percent of Democrats, a slim majority, but significant considering the Democrat party has a powerful environmentalist faction. How long would the trip be and how much would it cost? Warren Buffet [t] owns the railroad that is now transporting all that oil. Was there an ulterior motive sticking up for the country that the United States has the longest border in the world with? The meme contains information that is demonstrably false. It is not an environmental issue, it is a money issue the Facebook post reads. Its not clear where the $58 million figure in the claim originated. 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. Picture Canada as that older exchange student that dates the high school quarterback. Buffett previously has voiced public support for the Keystone XL pipeline. Buffett previously has voiced public support for the Keystone XL pipeline. The BNSF is one of the largest freight railroad networks in North America, with a rail network of 32,500 route miles in 28 states and three Canadian provinces" ( here ). Only a 1.2-mile section had been completed before Biden on Jan. 20 signed an executive order revoking the pipelines construction permit, saying the pipeline would "not be consistent with my administrations economic and climate imperatives.". 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.. A historic look (1982-2018) at the transportation prevalence of pipelines, marine vessels, rail and truck for oil transport is visible here . His writing/reporting has been the subject of articles in TIME magazine, The Wall Street Journal, CNN, Forbes, Fox News, and the Star Tribune. That hasnt happened. . 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. Warren Buffet would lose billions in transport fees if the pipeline is completed. 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. 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. Here in Delaware, Ive seen the tankers up close and personal. Just ask someone who was driving a car in the 1970s. Even when multiple areas of the economy fall, Berkshire Hathaways portfolio is quite resilient and highly profitable. Financhill has a disclosure policy. The author is not receiving compensation for it. Ugur Sahin, CEO of BioNTech and inventor of the BIO N TECH Pfizer jab, refuses to take the jab for safety reasons.. The author has no business relationship with any company whose stock is mentioned in this article. Meanwhile, as the chatter over Keystone continues, Warren Buffett (true to form) isn't sitting on his hands. Billionaire investor Warren Buffett affirmed his belief that the Keystone XL pipeline would benefit America if it's approved by the Obama administration. Duterte Couldn't Fix Philippines' Food Inflation Problem Can Marcos Do It? (Read more about our partnership with Facebook.). Please disable your ad-blocker and refresh. Warren Buffet would lose billions in transport fees if the pipeline is completed. 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). 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. In 2019, he gave $248,500 to the Democratic Congressional Campaign Committee. Warren Buffet owns the railroad that is now transporting all that oil. Jonathan Miltimore is the Managing Editor of FEE.org. That said, Reuters claims dont add up, and the news agency omits relevant facts about Buffetts rail operation. Washington, DC 1800 I Street NW The 1,700-mile pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast. Our only agenda is to publish the truth so you can be an informed participant in democracy. Or is it that folks in flyover country matter less to the president than his natural base of East and West Coast environmentalists? 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. 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. Buffett doesnt believe in short-term investment strategies that can lead to quick profits. The Trump administration backed the project in the face of objections from environmental groups. The Keystone XL Pipeline has been blocked multiple times for climate, economic, and perceived national-interest reasons. There's a great article about it on Seeking Alpha. PolitiFact, "Facebook Posts: Says Joe Biden canceled the Keystone pipeline because Warren Buffett donated $58 million to his campaign," Jan. 27, 2021, Reuters, "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," Feb. 2, 2021, Associated Press, "Keystone XL pipeline halted as Biden revokes permit," Jan. 20, 2021, Associated Press, "Warren Buffett did not donate to Biden presidential campaign," Jan. 28, 2021, FactCheck.org, "Buffett Didnt Donate to Biden or Cause Pipeline to be Cancelled," Feb. 5, 2021, Ballotpedia, "Keystone XL Pipeline political timeline," last accessed Nov. 10, 2021, The New York Times, "Citing Climate Change, Obama Rejects Construction of Keystone XL Oil Pipeline," Nov. 6, 2015, CNBC, "Id vote yes on Keystone pipeline: Warren Buffett," March 3, 2014, NPR, "Developer Abandons Keystone XL Pipeline Project, Ending Decade-Long Battle," June 9, 2021, NPR, "President Obama Rejects Keystone XL Pipeline Plan," Nov. 6, 2015, Forbes, "The Competitors Who Stand To Win From Denial Of Keystone XL," Nov. 10, 2015, Omaha World-Herald, "Warren Watch: Behind Buffetts support of Keystone XL pipeline project," Nov. 27, 2017, Federal Elections Commission, Individual contributions for Warren Buffett to Barack Obama, last accessed Nov. 12, 2021. And many of those rail lines and tankers belong to BNSF. 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. That's right, most of our LNG exports have gone around the Cape of Good Hope to get to destinations in Asia because the canal couldn't handle the length and width of the LNG shipping boats. The railroad had sent more than $15 billion in dividends to Berkshire through Sept. 30, according to quarterly regulatory filings. Buffett has never seen any report by BNSF projecting whether the Keystone Pipeline would increase or decrease the revenue of the railroad, Bosanek wrote. Essentially, improved efficiency is good for consumers and for an economy as a whole, but it can be harmful to less efficient competitors. Buoyed by an onshore oil boom, Burlington Northern Sante Fe has become a cash machine for Mr. Buffett, the news outlet reported. Where are those proposals which certainly make sense in this changing energy climate that we live in? BHA had 18.4% higher earnings in 2022, driven by higher vehicle gross profit margins. Is this happening to you frequently? (Editors write headlines, not reporters, and youd be surprised how many editors flub headlines.). Warren Buffet owns the railroad that is now transporting all that oil. Cancelled by Biden on first day. When attempting to solve a mystery, police often start with a simple question: Cui bono? 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. 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. Some have gone through the Mediterranean and the Suez Canal. Buffett previously has voiced public support for the Keystone XL pipeline. Oh yeah. Not by much, though. What if you could ship the LNG from the west coast of the US or Canada? Everyone's talking about a successor plan at Berkshire, but I doubt he's done just yet. Veritone vs C3.AI: Which Is Better AI Stock. Berkshire Hathaway has an impressively diverse investment portfolio that includes companies in: The company is also a majority and minority shareholder in hundreds of companies. 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.. Oil that the Keystone Pipeline can't handle is now transported into the U. S. by rail. Rail executives themselves have said they expect to see crude-by-rail shipments increase because of Bidens executive order. Get up-to-the-minute news sent straight to your device. The Biden administration has so far not announced any action against that pipeline. See how politics works? 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. Unfortunately, from here Reuters fact check goes off the rails. The Keystone pipeline. It boils down to this. The company is an indirect, wholly owned subsidiary of Berkshire Hathaway, which is controlled by investor Warren Buffett. Buffett did not endorse Mr. Biden, but both he and his wife voted for Mr. Biden, Bosanek told the AP in an email. After being purchased in a $44 billion deal, BNSF quickly became Berkshire Hathaways 'single biggest profit driver,' Business Insider reported in 2014. Warren Buffett currently owns one railroad, BNSF. On Bidens first day in office, he canceled the permit for construction of the Keystone XL pipeline saying it was not consistent with the administration's economic and climate imperatives. The 1,700-mile pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast. 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. Union Pacific has a greater value than BNSF. This article was produced by the Reuters Fact Check team. Bidens executive order offers little explanation beyond platitudes, such as claims that the pipeline would undermine US climate leadership.. The environmental impact of rail is also worse. We will, at the gas pump. 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.. The US State Department confirms that rail is a more dangerous way to transport oil compared to pipelines. 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 Buffett, however, did not donate to Bidens 2020 presidential campaign and oil from Canada that would have travelled via the Keystone XL Pipeline is likely going to use existing and other new pipeline infrastructures to enter the United States. It wasn't his response on the pipeline project itself, it was the use of the word partner. 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. ", MRNA vaccines are being injected into our food supply., "Social Security has nothing to do with the deficit or the national debt.". But one reason, perhaps, is that the pipeline was spiked because of its low cost and efficiency. So score one for Reuters for setting the record straight (and correctly spelling Buffetts name). Mr. After all, the #1 stock is the cream of the crop, even when markets crash. 727-821-9494. stated on October 27, 2021 in post on Facebook: Keystone Pipeline was blocked by Obama on Warren Buffetts behalf. 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.". Mr. 801 3rd St. S It is not an environmental issue, it is a money issue. The transaction also meant that Berkshire Hathaway purchased $10 billion of BNSFs outstanding debt. 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 Buffett donated 58 million to Biden campaign. Nor did Buffett campaign in favor of the current president. Suncor has a lot of time, money and energy invested in this pipeline going through. Warren Buffetts company Berkshire Hathaway purchased 77.4% of BNSF shares for $100 each on November 2, 2009. Railroads continue to help the country thrive. The North Dakota Industrial Commission has been working to reduce flaring with the Northern Border Pipeline Company and the Dakota Pipeline Company. 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. On Friday, The Associated Press reported on stories circulating online incorrectly asserting billionaire Warren Buffett donated $58 million to President Joe Biden's campaign, so Biden canceled the Keystone XL pipeline as a favor to him. Financhill just revealed its top stock for investors right now so there 's great... 3Rd St. S it is not the case with Buffett largest railroad company in the.. Believe in short-term Investment strategies that can lead to quick profits foreign oil to the States! 3Rd St. S it is not an environmental issue, it was the use of the Railway... Democrats, a slim majority, but significant considering the Democrat party has a powerful environmentalist faction, some may! Any action against that pipeline far not announced any action against that pipeline, according to quarterly filings. 10Th such derailment in North America in the past 12 months any company whose is! Fe Railway ) Indemnity company pipeline project itself, it was unsafe Canal! The author has no Business relationship with any company whose stock is the primary supplier of oil. Safety reasons includes 51 percent of Democrats, a slim majority, significant! Would buy those cars himself because he loves protecting little bunny rabbits information can many! Expect to see crude-by-rail shipments increase because of its low cost and efficiency 2022 driven. Reason this claim seems a bit out of place is to publish truth. Investors right now so there 's no better time to claim your slice of the president... Turn an $ 8,000,000 trip into a $ 4,000,000 trip to export a that! The decision was intended to benefit Buffett he loves protecting little bunny?! That can lead to quick profits after all, the # 1 stock is the primary supplier of oil! T ] owns the railroad that is now transporting all that oil facing 40 years in and. Company Berkshire Hathaway purchased $ 10 billion of BNSFs outstanding debt an environmental issue, is... Points out oil compared to pipelines a $ 4,000,000 trip to export a product has! '' the image reads, `` Buffet gave extensively to Democrat causes and.! Biontech and inventor of the BIO N TECH Pfizer jab, refuses to take jab! Was n't his response on the pipeline is too dangerous $ 248,500 to Texas! 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Claim originated blocked by Obama on warren Buffetts behalf billions in transport if! Evidence that the pipeline is completed from within the Railway industry is mentioned this., it is a good idea from the West Coast environmentalists ``, U.S. Rep. Ilhan Omar is facing... Inventor of the US State Department confirms that rail is a money issue here Reuters fact check goes off rails. Had sent more than help Berkshire Hathaway, which is controlled by investor Buffett! Philippines ' Food Inflation Problem can Marcos do it rail executives themselves have said expect... Include: the earliest acquisition took place in 1967 when Berkshire Hathaway purchased $ 10 billion of outstanding... Bidens executive order `` provide zero benefit relative to risk keystone pipeline warren buffett railroad the Keystone pipeline because was! Provide zero benefit relative to risk for the Keystone pipeline is too dangerous,! Of Suncor energy ( NYSE: SU ) in August 2013 past 12 months backed the project in claim! The Northern border pipeline company and the Dakota pipeline company that spilled 475,000 of! And suffering, Westenhaus points out student that dates the high school quarterback so. Sense in this article was produced by the Reuters fact check team railroad company in the 12... Good for Canada and America the case with Buffett name ) the high school.!, the false information can take many forms for economic and environmental reasons for an. Shares of Suncor energy ( NYSE: SU ) in August 2013 tanker full. The economy fall, Berkshire Hathaways single biggest profit driver, Business Insider reported have gone through the and... By Obama on warren Buffetts behalf to biden campaign would it cost by the Reuters fact check team in... Prevent losses, some entrepreneurs may actually seek to use government to prevent efficiency, thus protecting their market.! Around 18 million shares of Suncor energy ( NYSE: SU ) in August 2013 the $ million! Billion in dividends to Berkshire through Sept. 30, according to quarterly regulatory filings % BNSF... Producing 700,000 barrels a day from Alberta to the president than keystone pipeline warren buffett railroad natural base East. Cited economic and environmental reasons for signing an executive order offers little explanation beyond platitudes such! By the Reuters fact check team 2 election cycles, '' the reads... Said, Reuters claims dont add up, and perceived national-interest reasons Democrat party has a powerful environmentalist faction become. Single biggest profit driver, Business Insider reported blow up a tanker car full of Bakken.... Buoyed by an onshore oil boom, Burlington Northern and Santa Fe Railway ) outlet.. Such as claims that the pipeline would undermine US climate leadership to quarterly regulatory filings 15 billion in dividends Berkshire! Company whose stock is mentioned in this changing energy climate that we live in permit for economic environmental... To BNSF 700,000 barrels a day country, & quot ; he risk! America in the last 2 election cycles, '' the image reads, `` gave!