From the Pages of "Atlas Shrugged"! Buffett's Burlington Northern RR Among Pipeline Cancellation Winners

It is as if Ayn Rand was sitting in on this Whitehouse crony meeting.

"From the first catch-phrases flung at a child to the last, it is like a series of shocks to freeze his motor, to undercut the power of his consciousness. 'Don't ask so many questions, children should be seen and not heard!'–'Who are you to think? It's so, because I say so!'–'Don't argue, obey!'–'Don't try to understand, believe!'–'Don't rebel, adjust!–'Don't stand out, belong!'–'Don't struggle, compromise!'–'Your heart is more important than your mind!'–'Who are you to know? Your parents know best!'–'Who are you to know? Society knows best!'–'Who are you to know? The bureaucrats know best!'–'Who are you to object? All values are relative!'–'Who are you to want to escape a thug's bullet? That's only a personal prejudice!'"

-Ayn Rand, Atlas Shrugged, Part 3, Ch. 6

Buffett's Burlington Northern Among Pipeline Winners | Full Page

This report was curiously missing from the Bloomberg site after initial posting.

Jim Efstathiou Jr., ©2012 Bloomberg News

Monday, January 23, 2012

Jan. 23 (Bloomberg) -- Warren Buffett's Burlington Northern Santa Fe LLC is among U.S. and Canadian railroads that stand to benefit from the Obama administration's decision to reject TransCanada Corp.'s Keystone XL oil pipeline permit.

With modest expansion, railroads can handle all new oil produced in western Canada through 2030, according to an analysis of the Keystone proposal by the U.S. State Department.

"Whatever people bring to us, we're ready to haul," Krista York-Wooley, a spokeswoman for Burlington Northern, a unit of Buffett's Omaha, Nebraska-based Berkshire Hathaway Inc., said in an interview. If Keystone XL "doesn't happen, we're here to haul."

The State Department denied TransCanada a permit on Jan. 18, saying there was not enough time to study the proposal by Feb. 21, a deadline Congress imposed on President Barack Obama. Calgary-based TransCanada has said it intends to re-apply with a route that avoids an environmentally sensitive region of Nebraska, something the Obama administration encouraged.

The rail option, though costlier, would lessen the environmental impact, such as a loss of wetlands and agricultural productivity, compared to the pipeline, according to the State Department analysis. Greenhouse gas emissions, however, would be worse. [Note: This last paragraph is all utter nonsense since the entire region is already crisscrossed with petroleum and related pipelines! m/r]

Read more: http://www.sfgate.com/cgi-bin/article.cgi?f=/g/a/2012/01/23/bloomberg_articlesLY20WE6K50Z001-LY9YF.DTL&ao=all#ixzz1kPdmNk5f