General Discussion
Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsSo now the story is: Obama delayed XL to benefit Soros/Buffett?
Energy Policy: Killing the Keystone XL pipeline may help one of the world's richest men get richer. North Dakota's booming oil fields will now grow more dependent on a railroad the president's economic guru just bought.
Stop us if you see a pattern here. About the time George Soros Hungarian billionaire and key donor to leftist groups and the Democratic Party invested heavily in the stock of the state-run Brazilian oil company Petrobras, President Obama was curbing U.S. offshore oil production and the U.S. Export-Import Bank announced a $2 billion loan to Petrobras to finance deep-water drilling off the pristine beaches of Sao Paulo and Rio de Janeiro.
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Interestingly, another billionaire, Obama economic inspiration Warren Buffett, stands to benefit from the Keystone XL pipeline delay.
As oil production ramps up in the Bakken fields of North Dakota, plans to use the pipeline to transport it have been dashed.
As a result, North Dakota's booming oil producers will have to rely even more on the Burlington Northern Santa Fe (BNSF) railroad, which Buffett just bought, to ship it to refineries.
http://news.investors.com/Article/591960/201111161727/Billionaire-Buffetts-Bakken-Boom.htm
rfranklin
(13,200 posts)On the other hand, why do we care if some billionaire in Canada is out a few bucks?
spanone
(135,886 posts)he works for soros and buffett
stockholmer
(3,751 posts)to do. I am not about to condemn the decision. I also would be a hypocrite for coming down hard on Soros and Buffett (both of whom I loathe and despise, btw) for making wise (in terms of rate of return) investments.