February 6, 2023

Buffet’s Railroad Ownership and Keystone

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Circulating for quite some time throughout the Internet is the claim that Warren Buffet, who owns Berkshire Hathaway, which owns the Burlington Northern Santa Fe Railroad, handles some 80% of the transport of all U.S. oil and thus is behind the stoppage of the building of the Keystone Pipeline.

That’s not entirely true. Some of the facts and figures presented below are inaccurate but don’t lose sight of the fact that Buffet, who controls much of Wall Street, Obama and the White House, and will the next sitting president, unless he has a financial stake in the Keystone Pipeline, will use his power to block the project if it means more profits for him. This is not a new concept.

The Internet’s insistence on protecting Buffet by disputing the degree of his ownership and control over oil transportation and the Keystone, is but a distraction from reality.