Increased rail capacity is moving more oil from Canada's oilsands
More oil is moving by rail from North Dakota as well
Warren Buffett has formally endorsed and made campaign contributions to Barack Obama's presidential campaign. On July 2, 2008, Buffett attended a $28,500 per plate fundraiser for Obama's campaign in Chicago hosted by Obama's National Finance Chair, Penny Pritzker and her husband, as well as Obama advisor Valerie Jarret.
Warren Buffett’s Berkshire Hathaway (BRK/A) owns Union Tank Car, just one piece of his big bet on rail, which also includes the Burlington Northern Santa Fe railroad.
This is all probably just convenient luck for Warren Buffet. The environmental lobby and their money is mainly what is considered to be the reason Obama made the decisions he has on the Keystone pipeline.
The Burlington northern railroad is worth about $34 billion now. In 2009, Warren Buffett bought BNSF railroad for $26 billion.
In 2008, Buffett's Berkshire Hathaway bought 60 percent of Marmon Holdings, a private firm owned by trusts associated with Chicago's Pritzker family, for $4.5 billion.
Tank cars, those torpedo-shaped rail cars built to carry liquids, anything from milk to industrial chemicals, are increasingly being used to carry shale oil. “The traffic has grown significantly, from probably 50,000 carloads a year in 2010 to over 700,000 this year,” says Toby Kolstad, president of the consulting firm Rail Theory Forecasts. “It probably will rise above a million carloads a year in the next year or two.”
There are multi-billion dollar backorders for tank cars.
Obama's very richest friend benefits from his policies. How are the other 99.99% doing ?
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