Forwarded to me by a friend. Is ths story true? Buffet gives to many politicians besides Obama. Merle
Subject: BN & St. Fe Railroads owns all of the rail lines that haul crude oil from Canada
Burlington Northern Santa Fe Railroad owns all of the rail lines in the
US connecting to western Canada and they haul 80%+ of the crude from Canada to the midwest and Texas or charge other Short Line railroads a fee to use their tracks. BNSF charges $30 per barrel to haul the oil where the Keystone would cost $10 by the State Departments own estimates. BNSF is owned by Berkshire Hathaway whose chairman is Warren Buffet. In the last 2 election cycles Buffet gave extensively to democrat causes and candidates including $40K+ to Obama in 2012. He also bundled and hosted numerous fundraisers for Obama. If anyone here believes the pipeline isn't being blocked by Obama on Buffets behalf you're nuts. Buffet could stand to lose $2B+ a year if the pipeline goes in and he makes the same amount every year it's delayed. This is crony capitalism at it's finest and what is making people mad at our government and capitalist system.
US connecting to western Canada and they haul 80%+ of the crude from Canada to the midwest and Texas or charge other Short Line railroads a fee to use their tracks. BNSF charges $30 per barrel to haul the oil where the Keystone would cost $10 by the State Departments own estimates. BNSF is owned by Berkshire Hathaway whose chairman is Warren Buffet. In the last 2 election cycles Buffet gave extensively to democrat causes and candidates including $40K+ to Obama in 2012. He also bundled and hosted numerous fundraisers for Obama. If anyone here believes the pipeline isn't being blocked by Obama on Buffets behalf you're nuts. Buffet could stand to lose $2B+ a year if the pipeline goes in and he makes the same amount every year it's delayed. This is crony capitalism at it's finest and what is making people mad at our government and capitalist system.
1 comment:
Merle,
Much of the crude oil shipped out of North Dakota goes to northeast refineries, to which pipelines aren't likely to be built (those refineries historically purchased costlier imported oil).
Pipelines are cheaper to ship oil, but are hugely expensive to build, and rail transportation offers shippers and consignees flexibility to divert shipments as markets change.
Oil shipped from Alberta's oil sands is bitumen. To ship it by pipeline, it must be diluted with distillate, which has to be removed at destination, which is costly. Shipping by rail, using tank cars equipped with heating coils, requires much less distillate. This means rail is more economical than pipeline.
While BNSF Railway originates the most crude oil of any other rail carrier, Union Pacific, Canadian Pacific, Canadian National and a growing number of shortlines do as well while CSX, Kansas City Southern, Norfolk Southern and a number of shortlines deliver to refineries or storage facilities.
Rail transport of crude oil isn't necessarily being driven by politics, but by economics.
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