Says he has been to Afghanistan, Iraq and those areas twice as president. Union Pacific has a greater value than BNSF. 727-821-9494. stated on October 27, 2021 in post on Facebook: Keystone Pipeline was blocked by Obama on Warren Buffetts behalf. Berkshire Hathaway has a huge amount of cash that lets it invest in practically any business. (Read more about our partnership with Facebook.). Reverse-image searches show it was being shared as early as 2015, midway through Obamas second term. He files all filing requirements for political contributions and made no contribution to any PAC.. Rifles were involved in 297 deaths in the U.S. in 2022 and constipation killed 2,167., Drinking or using tap water treated with chlorine is dangerous because chlorine is a poison., Joe Biden described America as the foothills of the Himalayas with Xi Jinping., Kid Rock tweeted, Some people wouldnt recognize tyranny if it slapped a mask on their face, made them stand 6 feet apart, and forced them to take a vaccine for a virus with a 99.8% survival rate., The train that derailed in Ohio was carrying over 300,000 gallons of a chemical that was banned in 1974.. The author wrote this article themselves, and it expresses their own opinions. Common sense also tells us that it would be cheaper to pump the oil through a pipeline instead of loading it into thousands of rail tanker cars, one-by-one, with a diesel-burning locomotive at the front of the line. By Keystone pipeline, the posts are referring to the Keystone XL Pipeline, a project cancelled by Biden on his first day in office on Jan. 21, 2021, dealing a death blow to a long-gestating project that would have carried 830,000 barrels per day of heavy oil-sands crude from Alberta to Nebraska. Warren Buffet owns the railroad that is now transporting all that oil. Warren Buffett's company Berkshire Hathaway purchased 77.4% of BNSF shares for $100 each on November 2, 2009. What Buffett doesnt mention is that this success is directly related to the lack of the Keystone Pipeline. See how politics works? Copyright IBTimes 2023. Buffett didnt make any contributions to Bidens 2020 presidential campaign. 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. It is the company's biggest acquisition ever. THE FACTS: On Bidens first day in office, he halted construction of the Keystone XL pipeline. It is not an environmental issue, it is a money issue the Facebook post reads. (Follow him on Substack.). The news agency also admits trains on the BNSF carry lots of energy (especially oil and coal). As a bit of history, Buffett purchased BNSF in a $44 billion deal in 2009. It's also incredibly lucrative. As weve seen, rail shipments involve possible derailments, accidents and opportunities for ignition-causing friction. Those exploding oil trains are more common than people realize (see them in pictures), and the human and environmental costs are real and exceed the costs of moving oil by pipeline. 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 billionaire investor, Warren Buffett. The larger size may help explain why Warren Buffett chose to purchase BNSF over Union Pacific. Warren Buffet would lose billions in transport fees if the pipeline is completed. 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. 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.. When it comes to length, though, BNSF manages to beat Union Pacific. 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. 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. A hefty sum, to be surethough one Buffett would hardly feel.). He has done this while . 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. The Nebraska. campaign, nor did he endorse him. 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. Reuters assured us this is not the case with Buffett. Through a holding. 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. See how politics works? Warren Buffet donated 58 million to Biden campaign. , even though a train ticket often costs more than an airplane ticket. Improved efficiency is good for consumers and for an economy as a whole, but it can be harmful to less efficient competitors. Buffett says that heconsiders buying BNSF anall-in wager on the economic future of the United States.. It is not an environmental issue, it is a money issue Warren Buffett donated 58 million to Biden campaign. Biden said he issued an executive order canceling the pipelines construction permit for economic and environmental reasons. Sign up and stay up to date with our daily newsletter. 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. 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. Heres more information on Facebooks fact-checking program: https://www.facebook.com/help/1952307158131536, he halted construction of the Keystone XL pipeline. It is not an environmental issue, it is a money issue. Whatever the answer, the real lesson of the Keystone XL pipeline is that when politicians make decisions instead of entrepreneurs acting within the marketplace, everyone loses. 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. Between 2007 and 2012, Buffett gave more than $75,000 to organizations supporting Obama. 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. Berkshire Hathaway has a huge amount of cash that lets it invest in practically any business. 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. See how politics works? That hasnt happened. This claim defies both common sense and an abundance of research, however. Warren Buffetts company Berkshire Hathaway purchased 77.4% of BNSF shares for $100 each on November 2, 2009. Natural gas for the most part is either used geographically close to where it is harvested in North Dakota or it is burned off in a process called flaring. After President Joe Biden, on his first day in office, effectively halted construction of the Keystone XL oil pipeline, tens of thousands of Facebook users shared an image that claimed he was repaying a favor to billionaire investor Warren Buffett. It would have carried up to 830,000 barrels per day of crude oil from Alberta, Canada, to. In spite of all these events and factors, the environmentalists keep insisting the Keystone Pipeline is too dangerous. Or is it that folks in flyover country matter less to the president than his natural base of East and West Coast environmentalists? Its not that big of a competitor, Buffett said at the time. Warren Buffet donated 58 million to Biden campaign. CLAIM: Billionaire Warren Buffett donated $58 million to President Joe Bidens campaign, so Biden canceled the Keystone XL pipeline as a favor to Buffett. The Pew report also revealed that in the six states where the pipeline would be located, and, thus, where the people would experience the greatest environmental impact (Montana, South Dakota, Nebraska, Kansas, Oklahoma, and Texas) 69 percent of them support its construction while 28 percent oppose. But rail-car supplies can expand . Buffett didnt make any contributions to Bidens 2020 presidential campaign. The theory is that Buffett is. 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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