The following is from econmatters.com
One of the key elements of anything that goes on in this world whether it be warring factions, religious fights, political debates, financial markets, educational debates or even environmental concerns is what is really going on behind the scenes, and it usually involves money.
The Keystone Pipeline debate isn`t really about the environment at all, but rather money. I find it rather convenient that one of the biggest supporters of the Obama administration is Warren Buffet who just happens to own a major railway, BSNF.
According to Business Insider: “And among all rail companies, BNSF may be best positioned to take advantage of shipments of crude from America’s oil boom.
Warren Buffett bought BNSF railroad for $26 billion.
Who benefits when Keystone Pipeline gets blocked or tied up in legislative procedure and governmental red tape? Mr. Buffett.
This potentially dangerous product is carried by rail across the country. Accidents are frequent. Pipelines are so much safer. But railroads cannot afford to lose this cash cow of oil transportation.
Any incremental threat towards more pipeline transportation and less railway transportation is going to be lobbied on K-Street in Washington. I hazard to bet if Warren Buffet bought a pipeline company instead of a railroad company that Keystone would have been passed long ago.
Yes, follow the money. When a billionaire gets to be a good friend of the president, watch out.
On the other hand, if a billionaire is president, it could be good. Or could it? We may find out.