George Soros and Warren Buffet benefited from Obama Keystone Pipeline Veto

The Democratic Party’s largest single contributors will make money off of the country losing hundreds of thousands of jobs with President Obama killing the Keystone Oil Pipeline from Canada.

Investors Business Daily:

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.

As he was imposing curbs and moratoria on U.S. offshore drillers, President Obama wished the Brazilians well in the hope we would someday be Brazil’s best oil customer.

Apparently, oil tankers coming from Brazil are better and safer than a pipeline from Canada, whose best customer we will not be if they ship their tar sands oil to China instead.

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.

Buffett’s Berkshire Hathaway has agreed to buy Burlington Northern Santa Fe in a deal valuing the railroad at $34 billion. Berkshire Hathaway already owns about 22% of Burlington Northern, and will pay $100 a share in cash and stock for the rest of the company.

7 thoughts on “George Soros and Warren Buffet benefited from Obama Keystone Pipeline Veto”

  1. there is no chance there would ever be hundreds of thousands of jobs created from this. 99% of jobs would last less than 3 years… temporary construction permitting jobs, that’s it. nice try propagandists.

    Political Arena Editor Chuck Norton Responds:

    Jon, I reject your idea of 99%, but I find your point of view interesting; that construction jobs are not the “right jobs” because many of them are temporary. Most construction jobs are temporary and when has that ever been different? Once something is built the construction workers move on to the next structure to be built. So we should abandon all construction projects, and key strategic and energy infrastructure, because 100% of the jobs are not permanent?

    I knew the left was anti-wealth and anti-employment for the middle class (except unions who pay them bribes), but rarely does a leftist admit the obvious truth so freely.

    You are welcome to post here any time.

    1. I was raised in a family construction business and it’s a hard way to make a living. Construction is cyclic, with periods of feast or famine. My family had to sell our house to handle a long dry spell. Just because there is a boom in one area for a limited period of time does not mean the workers can find work somewhere else after that ends.

      Yes, large infrastructure projects like Keystone can provide jobs for the short term but a better solution would be to engage in long-term projects like rebuilding our bridges, which have fallen into a sad state of repair, or projects like high-speed rail.

      Frankly, Keystone sums up the corporate attitude towards labor, namely, work ’em when you need them, and fire ’em when you don’t. There’s plenty more where those came from.

      Funny how this concern for labor never translates into reinvestment in manufacturing or other good paying blue-collar jobs. Business only cares about workers when it is in their best interest, not the nation’s.

      [Political Arena Editor Responds: It is a false choice to imply that either we can have the Keystone Pipeline or better bridges. We did have a trillion dollar “stimulus” which didn’t amount to much.That being said, labor, capital and risk must come together if there are to be jobs. Sure, some businesses do not give a rip about their employees, but many do. I agree that the problem seems worse in publicly traded companies.]

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s