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