Warren Buffett, the billionaire owner of Berkshire Hathaway and one of the most successful investors alive, owns BNSF Railway Company. The transaction also meant that Berkshire Hathaway purchased $10 billion of BNSFs outstanding debt. 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. It also gives Buffett opportunities to make his other investments more valuable. That hasnt happened. St. Petersburg, FL 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.". His writing/reporting has been the subject of articles in TIME magazine, The Wall Street Journal, CNN, Forbes, Fox News, and the Star Tribune. 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. Warren Buffet would lose billions in transport fees if the pipeline is completed. 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. RT @Frida_Goman: Biden canceled the Keystone Pipeline because it was unsafe. In spite of all these events and factors, the environmentalists keep insisting the Keystone Pipeline is too dangerous. Warren Buffett did not donate to Bidens. Buffett supported the pipeline. BHA had 18.4% higher earnings in 2022, driven by higher vehicle gross profit margins. Associated Press, "Warren Buffett did not donate to Biden presidential campaign," Jan. 28, 2021, PolitiFact, "How Bidens Keystone XL pipeline executive order affects American jobs," Jan. 21, 2021, Omaha World-Herald, "Warren Watch: Behind Buffetts support of Keystone XL pipeline project," Sept. 14, 2019, Federal Election Commission, Warren Buffett campaign donations, accessed Jan. 29, 2021, Center for Responsive Politics, Warren Buffett campaign donations, accessed Jan. 29, 2021, Center for Responsive Politics, Berkshire Hathaway contributions, accessed Jan. 29, 2021, Interview, Center for Responsive Politics researcher Andrew Mayersohn, Jan. 29, 2021. Warren Buffett's company Berkshire Hathaway purchased 77.4% of BNSF shares for $100 each on November 2, 2009. Federal Election Commission records show that Buffett made no individual contributions in 2020. Theyll tell you about how the Middle Easts 1973 and 1979 embargoes against exporting oil to the U.S. resulted in long lines at the gas pump, rules about filling up your tank based upon whether your license plate ended in an even or odd number, etc. The oil is still flowing but now it's being brought to America on RAIL CARS.. along with dangerous chemicals Guess who owns the Rail Cars.. Ultra Left Extremist Warren Buffett . 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. Research shows the spill rate for hazardous material transported by rail is 33 times higher than pipelines. But. Warren Buffet donated 58 million to Biden campaign. 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. Instead of shipping Canadian/North Dakotan oil via a pipeline, its coming south via rail tanker cars. Some have really taken to the notion, for example, that Warren Buffett has a hand in delaying the pipeline project in order to boost his railroad business. CLAIM: Billionaire Warren Buffett donated $58 million to President Joe Bidens campaign, so Biden canceled the Keystone XL pipeline as a favor to Buffett. Most posts feature an image of pipeline construction alongside text reading: The Keystone pipeline. One reason this claim seems a bit out of place? The horrible truth is train transport is far more dangerous, energy writer Brian Westenhaus has pointed out. Sorry, there are no recent results for popular articles. Without the Keystone Pipeline, were enduring events such as last Julys tank car explosion that killed 47 people and leveled a small town in Quebec. 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. Warren Buffet donated 58 million to Biden campaign. In a world of wild talk and fake news, help us stand up for the facts. We will, at the gas pump. It is not an environmental issue, it is a money issue , even though a train ticket often costs more than an airplane ticket. Warren Buffet [t] owns the railroad that is now transporting all that oil. Why the phrase thumbing our noses? "In the last 2 election cycles," the image reads, "Buffet gave extensively to Democrat causes and candidates. LNG exporters on the West Coast of North America. Written in a breezy, sometimes cheeky tone, its a harbinger of spring, like sighting the first robin of the year. Warren Buffett owns the railroad that is now transporting all that oil. Not all types of railroads earn profits, though. 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. Pfizer made $37 billion in profit in its last quarter. I think probably the Keystone pipeline is a good idea for the country. Bosanek told the AP that Buffett had not offered any opinions about the project more recently that he can remember, nor did he have a stance on how it would impact his business. Warren Buffet would lose billions in transport fees if the pipeline is completed. Days after U.S. President Joe Biden cancelled construction plans for the Keystone XL Pipeline - meant to carry oil from Canadas Alberta province to Nebraska - posts on social media alleged this move was due to Warren Buffetts extensive political donations to Bidens campaign. See how politics works? Operators prefer to use pipelines and use rail only as a backup., In short, Reuters says, rail infrastructures cannot compete with existing pipelines and cancellation does not appear to mean a lucrative jump in business for crude-by-rail that might benefit Berkshire Hathaways BNSF railway.. No pipeline failure has ever come close to this level of human death and suffering, Westenhaus points out. Forty-two people were confirmed dead in the 2013 Quebec train disaster, and several more are presumed dead. 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. Correcting Wood Mackenzie team name in paragraph 22. 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. ", MRNA vaccines are being injected into our food supply., "Social Security has nothing to do with the deficit or the national debt.". It is not an environmental issue, it is a money issue the Facebook post reads. "I think probably the Keystone pipeline is a good idea for the country," he said during an appearance on CNBC's "Squawk Box" on Monday. ), The false information can take many forms. But lets remember the reason given by President Barack Obamas administration and its friends for holding up the Keystone project: the environment. 1800 I Street NW It would traverse about. 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Debbie Bosanek, assistant to Warren Buffett, told Reuters via email that Mr. 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. (As the video below shows, suppliers are willing to pay higher short term costs for greater shipping flexibility. Cashing in on our political climate and being one step ahead of his competitors is old hat to this Nebraskan. The author has no business relationship with any company whose stock is mentioned in this article. The posts say Buffett's railroad "is now transporting all that oil" following the Keystone XL Pipeline's cancellation. COVID-19 vaccines "provide zero benefit relative to risk for the young and healthy.". Biden said he issued an executive order canceling the pipelines construction permit for economic and environmental reasons. The author has no business relationship with any company whose stock is mentioned in this article. More importantly, the assertion that Buffett donated $58 million to the Biden campaign is bogus. Suncor is Canada's largest energy producer.. One would say their main rival, Enbridge Energy (NYSE: ENB) owns the Dakota Pipeline. The Biden administration has so far not announced any action against that pipeline. And who will pay for those improved tankers? In just a few short years BNSF had become Berkshire Hathaways single biggest profit driver, Business Insider reported. But the posts main thesis, that the Berkshire Hathaway CEO was a major donor to Bidens campaign, is not true. The author wrote this article themselves, and it expresses their own opinions. Records from the Federal Election Commission and the nonprofit Center for Responsive Politics show that Buffett, a donor to Barack Obamas and Hillary Clintons presidential campaigns, did not contribute to Bidens 2020 presidential campaign. In 2018, he gave $33,900 to the Democratic Congressional Campaign Committee, $33,900 to the Democratic Senate Campaign Committee, and $2,700 each to the campaigns of Democrats Donna Shalala and Rufus Gifford. stated on February 26, 2023 an Instagram post: stated on February 8, 2023 a Facebook post: stated on February 7, 2023 a post on Facebook: stated on February 6, 2023 an Instagram post: stated on January 25, 2023 an Instagram post: stated on February 4, 2023 a Facebook post: stated on January 27, 2023 a Facebook post: stated on January 23, 2023 an Instagram post: stated on January 15, 2023 an Instagram post: stated on January 12, 2023 a Facebook post: stated on January 5, 2023 a Facebook post: stated on January 3, 2023 a video shared on Instagram: 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, A vigilante shot down the Chinese spy balloon in an extraordinary act., "Warren Buffett did not donate to Biden presidential campaign,", "How Bidens Keystone XL pipeline executive order affects American jobs,", "Warren Watch: Behind Buffetts support of Keystone XL pipeline project,", Rifles were involved in 297 deaths in the U.S. in 2022 and constipation killed 2,167.. 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