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Jan 25 2012

Keystone XL Loss Is Crony Socialist Warren Buffett’s Gain

Good news and bad regarding Keystone XL. Obama is not sacrificing our economic security and tens of thousands of jobs on behalf of screwballs like Robert Redford and Daryl Hannah after all. He’s doing it on behalf of zillionaire crony socialist Warren Buffett:

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. (TRP)’s Keystone XL oil pipeline permit.

With modest expansion, railroads can handle all new oil produced in western Canada through 2030, according to an analysis of the Keystone proposal by the U.S. State Department.

Going by rail instead of pipeline would cost more and produce more of the greenhouse emissions libs pretend are hazardous, and might not prevent Canada, which needs a reliable buyer, from selling the oil to China instead. But being part of the 1% of the 1% of the 1% who are rich enough and corrupt enough to benefit from socialism, the tax-evading higher taxes advocate Buffett is an important guy to please. Like the crooks at Solyndra, he was a big supporter of Obama in 2008.

obama-buffett
Characters like these are the winners under crony socialism.

On tips from Byron, Mary, Bob Roberts, and J.

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  • dapenguin

    oh but warren cares for people right?

    He wants to give away all his wealth so I guess the more he makes in shady deals, the more he can give back.

  • The MaryHunter

    Just like George Soros and the Embrarer-Brazil Air Force contract deal – even as Embrarer is being investigated by the SEC.

    More cronies to pump up. Disgusting.

  • The MaryHunter

    Oops, Embraer.

  • Val

    Oh, The MaryHunter, don’t forget Brazil’s close alliance with Cuba,Venezuela and Iran!
    Also, is good to remember that Brazil is part of the MERCOSUR, along with Argentina, Uruguay and Paraguay, that signed a free trade agreement with Palestine last month!

  • Kevin R.

    Would it surprise anyone to find out a few years from now that Obama actually got something under the table for this?

  • Bob Roberts

    When the obamunists hatched the idea of the “occupy” movement, for whatever reason (many have been suggested, several probably apply) they didn’t really think things through. Surely they did not think through the logical implications of attacking “the 1%”, since Obama crony Warren Buffet certainly is a member of that group.

    But who else is?

    Well a number of Democrats, for starters. Both California Senators (Boxer, worth a paltry $5.6 million and the more wealthy Feinstein at $52 million) are wealthy. So are a number of other Democrats in both the Senate and the House as I will get to below. How about their Presidential candidates? Edwards has an estimated net worth of $45 million. The Clintons are listed at $85 million each. I don’t know if my source split the total figure, meaning their combined worth is $170 million, or they just attributed the whole lot to both – I would guess the former is the case. Al Gore has made bank off false alarmist claims about human-induced climate change – his net worth is at least $100 million. Kerry’s estate is valued at $240 million. We haven’t even considered people like “Chuck you” Schumer (the first I researched to come in at under a million – just! His wealth is estimated to be as much as $925,000), Harry Reid (estimated net worth just over $6 million), Dodd (now FORMER Senator, worth an estimated $3.5 million), “Dick” Durban (he claims he’s worth $1.25 million), Nancy Pelosi ($48 million), Frank Lautenberg ($55.33 million), Jay Rockefeller ($80.40 million), Jane Harman ($225.96 million), Nita M. Lowey ($60 million), Herb Kohl ($234 million), Frank R. Lautenberg ($90 million), Edward M. Kennedy ($93 million or so when he passed away – perhaps they should go occupy his burial place?), Jeff Bingaman ($37 million).

    So I have a message for both these fatcat members of “the 1%” and the occupy people: You get together and work out how much these rich Democrats, and the list is far from complete, are willing to pony up according to their own repeated claims that the rich aren’t paying their fair share. You see, it’s all talk – several Democrats worth multiple millions went before Congress to claim that they were willing to pay more, in fact they DEMANDED that Congress MAKE them pay more, but when each was given the opportunity TO ACTUALLY DO SO, they all refused!

    OH, and that nonsense about Warren Buffet claiming he pays less taxes than his secretary – basically it’s a lie. It’s complex, so let me try to break it down. Yes, investment income is taxed at a lower rate than ordinary income – that much is true. But investment income comes from money that was already taxed once, then invested, then taxed again. So it is disingenuous to claim that only the single, final tax rate applies.

    Plus if Buffet is so concerned about how little he pays, why does he have a fleet of tax lawyers ensuring he gets every possible loophole and deduction, and why has he been in court against the IRS for many years fighting a huge (one account said over $1 billion) tax bill the IRS says his company owes?

  • Bob Roberts

    Yeah, but what they don’t mention is it is much “greener” to send the oil down a pipeline than to burn a bunch of fossil fuel to transport it in heavy rail cars.

    Being green doesn’t matter when a crony stands to make millions, or billions, off a bad decision by government, at the expense of the taxpayers.

    But maybe I’m wrong – so you tell me. Can you come up with how much it costs to send an equal amount of oil from point A to point B through a pipe versus by rail and also which causes more carbon dioxide to be generated in the process? I’m betting that it’s cheaper by pipeline and “greener” (less CO2 generated) too!

  • Hail The Amberlamps!

    My first and lasting impression of “I’m a Socialist”-Buffett is of an off-season, child molesting JC Penney’s Santa Claus that pleasures himself to the memories of all the children that sit on his lap during Christmas, smug in the fantasy of all the joy he brings them as the fictional character. All he has to do is not get caught by the store manager, i.e., the state-run press.

    The Berkshire-Hathawayists get their toys. No guilt is recognized by id-dominated children getting shiny new toys, no consequences. That comes later, subconsciously. It all feels like a job-well-done except for that nagging pain in the keister called taxes.

    Meanwhile the parents (taxpayer, America) gets stuck with the bill, the physical aftermath and psychological damage to the next generation that enslaves it to repeat the cycle (socialism); abuse, decay, suicide and destruction.

    You can tell it’s a loathing with me.

  • Pingback: The Audacity of Hype()

  • batman

    Kind of like Atlas Shrugged script turned on it’s side. TransCanada Keystone pipeline is turned down because it’s goober-mentally unsafe. Making Buffet’s BNSF to be the profitable leg of a pipeline on wheels to China. Sweet. As we force our neighbor to burn more diesel to transport their cheaper oil to be transported to Vancouver where it will onto diesel burning leaky boats to china, we’ll be burning more diesel to propel more leaky tankers from Middle East to be gouged for necessities from people who hate us. Meanwhile, Buffet and Obammy laugh all the way to the bank when we start paying $5.00 per gallon gasoline and $0.50/kwHr electricity. Yeah, that’s “change we can believe in.”

  • Bloodless Coup

    Obama Put in His Place- Eligibility Hearing is ON for Thursday in Atlanta!

    http://obamaballotchallenge.com/obama-put-in-his-place-eligibility-hearing-is-on-for-thursday

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