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.. Its important to consider that buying BNSF does more than help Berkshire Hathaway earns returns from within the railway industry. 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. Unfortunately, passenger trains have suffered for decades. Warren Buffet donated 58 million to Biden campaign. The end result is lower costs at the gas pump. That 65 percent includes 51 percent of Democrats, a slim majority, but significant considering the Democrat party has a powerful environmentalist faction. Fueled by crude by rail volumes, BNSF became a cash cow for Berkshire, producing billions. 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. 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. 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 for natural gas have exacerbated this problem. Reuters reported in 2013 - when the Keystone XL was being debated - that some industry officials, energy analysts and recent data raised questions about whether the industry really is eager to adopt crude-by-rail, primarily pointing to the economic cost of using rail over pipelines ( here ). Warren Buffett and the Keystone Decision By Daniel John Sobieski When President Obama announced he was killing the Keystone XL pipeline, he said he was agreeing with the State Department's. It seemed he was up to something. 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. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. Warren Buffett bought BNSF because he believes that railways play a crucial role in the success of Americas economy. Because of this, operators prefer to use pipelines and use rail only as a backup.. Ugur Sahin, CEO of BioNTech and inventor of the BIO N TECH Pfizer jab, refuses to take the jab for safety reasons.. 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 currently owns one railroad, BNSF. Natural gas comes from the oil reserves that are being harvested in the Bakken Shale region; it is called associated gas because it is associated with the oil. APS ASSESSMENT: False. The larger size may help explain why Warren Buffett chose to purchase BNSF over Union Pacific. Cancelled by Biden on first day. 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. Please. It is the company's biggest acquisition ever. Billionaire investor Warren Buffett affirmed his belief that the Keystone XL pipeline would benefit America if it's approved by the Obama administration. 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. Railroads such as BNSF, Reuters says, are not the principle way oil is transported from Canada to the United States.. . Video shows President Joe Biden recalling an alien encounter. The Keystone pipeline. The news agency also correctly pointed out that Buffett donated to congressional Democrats in 2019, though they declined to say how much. It also gives Buffett opportunities to make his other investments more valuable. Federal Election Commission records show that Buffett made no individual contributions in 2020. 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. Buoyed by an onshore oil boom, Burlington Northern Sante Fe has become a cash machine for Mr. Buffett, the news outlet reported. The 1,700-mile pipeline was planned to carry roughly 800,000 barrels of oil a day from Alberta to the Texas Gulf Coast. 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. Warren Buffett would lose billions in transport fees if the pipeline is completed. Dyson is canceling their contract with Walmart and selling off Dyson Supersonic hair dryers only for $1!. Essentially, improved efficiency is good for consumers and for an economy as a whole, but it can be harmful to less efficient competitors. They snake in very long lines (too many to count) as they make their way to an oil refinery south of Wilmington. We dont find evidence that the decision was intended to benefit Buffett. NEW YORK (MarketWatch) Berkshire Hathaway Inc. said Tuesday it agreed to buy railroad operator Burlington Northern Santa Fe Corp. in a $44 billion deal that Chairman Warren Buffett called "an all-in wager" on the U.S. economy. Despite being a railroad proponent, Buffett said he's not against the environmentally controversial Keystone XL Pipeline that would bring crude oil from Alberta, Canada, through the Dakotas. We need your help. 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. Railroads such as BNSF owned by Buffett ( here ), however, are not the principle way oil is transported from Canada to the United States. I have been in the financial industry since 1999. MOST U.S. OIL IMPORTS FROM CANADA USE PIPELINES, NOT RAILWAYS. Warren Buffett consistently makes some smart investment decisions that lead to huge returns. The environmental impact of rail is also worse. It is true that Buffetts company, Berkshire Hathaway, owns BNSF Railway, a freight railroad network that transports crude oil. I cannot speculate as to what company may be next for a takeover from Berkshire Hathaway, but I would not be surprised if it owns a license to export LNG from the west coast. 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. Buffett has stated that buying BNSF represents a belief in the future of the U.S. economy. 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. Leaked tax return reveals secret to pocketing $460,164 Not all types of railroads earn profits, though. It also gives Buffett opportunities to make his other investments more valuable. 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. 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. Through a holding. Another factor in these crashes/derailments is that much of the crude oil involved is of a type (Bakken) that ignites at a lower temperature than other types, due to the higher levels of natural gas in Bakken oil. tanker cars. The company building it announced in March 2020 that it was launching construction, saying it would invest $8 billion in the project, with service expected to begin in 2023. Incentives matter, as any economist will tell you. None of this means Warren Buffett had anything to do with Bidens decision to spike the Keystone Pipeline. (Read more about our partnership with Facebook.). "In the last 2 election cycles," the image reads, "Buffet gave extensively to Democrat causes and candidates. Federal Election Commission records show that Buffett made no individual contributions in 2020. Oh yeah. 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. The North Dakota Industrial Commission has been working to reduce flaring with the Northern Border Pipeline Company and the Dakota Pipeline Company. According to Federal Election Commission records, Buffett did not contribute to Joe Bidens 2020 presidential campaign. 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.).