I know you all thought he was doing it for his environmental (note the word mental) base, lo and behold Warren Buffet is the one who wins. He owns a big stake in Burlington Northern and why is that relevant, because North Dakota is going to have to move their oil via train instead of via the they Keystone pipeline. I would like to think that via pipeline is more environmentally safer then moving it by train. I see stories all the time of trains going off the tracks and of course the Department of Homeland Security has told us that AQ wants to blow up trains. If that is the case and all of those agents who have to be paid so their $$$ flow back to the unions are violating train customers at train stations, you would think pipelines would be the answer. It appears that cronies are more popular with Barack Obama then the mentally deranged people of the “green” movement This All Ends With Firing Barack Obama
North Dakota oil drillers increasingly will rely on trains to move barrels of crude to market after the Obama administration’s decision to reject plans for a pipeline that would run from Canada to refineries on the Gulf of Mexico, state and industry officials say.
“Pipelines are by far the safest and most economically efficient way to transport oil, but we are left with a limited number of options if pipelines are off the table,” said Tony Clark, chairman of the North Dakota Public Service Commission. “Once the oil is flowing, it has to go somewhere.”
Obama on Wednesday temporarily halted the $7 billion Keystone XL pipeline, saying an arbitrary deadline set by Republican lawmakers didn’t give his administration enough time for review.
Calgary-based TransCanada Corp.’s 1,700-mile pipeline is designed to carry crude oil from tar sands near Hardisty, Alberta, through Montana, South Dakota, Nebraska, Kansas, Oklahoma and Texas. The pipeline also would move 100,000 barrels of crude daily, largely from North Dakota’s burgeoning oil patch and some from Montana.
Billions of dollars of infrastructure improvements have been made in recent years to allow North Dakota’s oil shipping capacity to keep pace with the skyrocketing production. North Dakota is the nation’s fourth-biggest oil producer and is expected to trail only Texas in crude output within the next year.
I am excited for the day that true capitalism is returned to the shores of America. When the millionaires and billionaires are not handed hardworking tax payer dollars to run their businesses, but where they take a risk because its a product worth risking their private dollars. We haven’t seen that type of capitalism in too many decades to count. Wall Street is an arm of the Federal Government, the majority of businesses who trade on it have and will continue to suckle at the teat of the American taxpayer, until we demand politicians stop it.