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Meet The New US Petroleum Pipelines

Tyler Durden's picture


Still confused why crony capitalist #1, the "rustic" Octogenarian of Omaha, and Obama tax advisor #1, Warren Buffett has been aggressively attempting to corner the railroad market, while the administration relentlessly refuses to allow assorted new, and very much competing petroleum pipelines from America's neighbor to the north to cross through the US (in gratitude for the former's generous "tax advice" and pedigree by association)? Hint: it's not concern about the environment. The answer is the chart below.

Source: Diapason


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Sat, 03/09/2013 - 07:29 | 3314490 Motorhead
Motorhead's picture

Buffet is a fucking ass hole, albeit a rich fucking ass hole.  But, given the state of US politics, if it weren't him, it'd be somebody else getting these crony deals.

Sat, 03/09/2013 - 07:49 | 3314508 GetZeeGold
GetZeeGold's picture



I'd rather buy expensive gas transported by train than cheap gas transported in a pipeline.


Because I'm a patriot.....and if it can save just one prairie dogs life I'm for it.

Sat, 03/09/2013 - 08:23 | 3314533 Mae Kadoodie
Mae Kadoodie's picture

Meanwhile here in the PA/NJ we are fighting Kinder Morgan's Tennessee Gas Northeast Upgrade Pipeline Project.  They are clear cutting virgin forest, displacing rare species, disturbing sacred indian burial grounds, using eminent domain to lay gas lines on private property wether land owners like it or not.  FERC is a fine example of regulatory capture.  Here's an 87 year old man's plight.  He fought this billion dollar project and lost.  Now he's crying for his trees.  This nation has become a scary place.

Sat, 03/09/2013 - 08:46 | 3314555 Jason T
Jason T's picture

There were lots of folks against the building of the Erie Canal too.  

An English Tourist, back in 1835 or so, complained that Americans can hardly conceive the horror of a foreigner coming upon "such magnificent trees standing around him with their throats cut, teh very Banquos of a murdered forest."


What has been, will be again ... there is nothing new under our sun.


Cut them.  They'll grow back in a few hundred years in the next dark age that'll start around 2032.


Sat, 03/09/2013 - 09:23 | 3314591 flacon
flacon's picture

I bet "Warren" just "Mungered" in his pants after looking at that chart. 

Sat, 03/09/2013 - 09:41 | 3314606 hedgeless_horseman
hedgeless_horseman's picture



Hint: it's not concern about the environment.

It's not a concern about the environment?  But, but, those pipelines are so dangerous, they can leak and stuff.  Trains are so safe.

Sat, 03/09/2013 - 09:43 | 3314628 GetZeeGold
GetZeeGold's picture



Landed smack dab into a bee colony tended by prairie dogs.


The horror......the horror.

Sat, 03/09/2013 - 11:24 | 3314763 SafelyGraze
SafelyGraze's picture

from 11/3/2009:

"Analysts say Buffett is planting both feet in an industry that is poised to grow as the economy gets back on solid ground."


Sat, 03/09/2013 - 13:21 | 3314959 Manthong
Manthong's picture

Just wait until the black folks finally figure out that Obama's real middle name is "Uncle Tom".

Sat, 03/09/2013 - 13:21 | 3314988 CrazyCooter
CrazyCooter's picture

C'mon guys, this is the new "Earth Plus Plastic" paradigm.

Give it 50 years, the human population will have collapsed due to energy constraints. 100 years from now, our descendants will probably be running mule teams again to stay fed ...



Sat, 03/09/2013 - 14:21 | 3315119 A Nanny Moose
A Nanny Moose's picture

Classic Carlin!

The planet isn't going anywhere.....we are!

Sat, 03/09/2013 - 19:50 | 3315880 nmewn
nmewn's picture

My favorite line was him calling out the deluded, white bourgeoisie liberal greenies wanting to make "the world safe for their Volvos"

Nailed it...classic Carlin.

Sat, 03/09/2013 - 09:47 | 3314634 nmewn
nmewn's picture

If these damned oil & chemical trains keep derailing & plunging into our fresh water supplies they're going to give crony socialism a bad name!

Sat, 03/09/2013 - 17:14 | 3315590 Kirk2NCC1701
Kirk2NCC1701's picture

Or rail in fresh water too, according to Buffet's plan.

Sat, 03/09/2013 - 09:54 | 3314650 malikai
Sat, 03/09/2013 - 12:12 | 3314851 luckylogger
luckylogger's picture

There have been hundreds of thousands of words written about this fuking mess and this picture is equal to all of them !!!!!!!!!!!!!

Sun, 03/10/2013 - 04:09 | 3316491 dunce
dunce's picture

I never looked up the comparative safety records of ton/mile of pipelines versus rail but it is not a matter of if there is derailing spills but when and how many. With the rate of shipments growing, even if the rate remains the same, the total will match at least the increase. The rails go through many towns between the bakken and the gulf coast refineries. These trains also tie up traffic as they move across the nation and the are many train / car accidents. Of course you will never hear the old argument "if it saves one life it is worth it" by the by, crude oil pipe lines do not explode in giant balls of fire. nether do tank cars of crude but there may be some tank cars loaded with volatiles in the same train. About ninety people were killed in Kingman, AZ when some tank cars exploded not that many years ago.

Sat, 03/09/2013 - 09:47 | 3314635 Muddy1
Muddy1's picture

After looking at the video and reading the opening sentence I would reassure you that a 70 year old tree does NOT constitute a "virgin forest".  Now, remove all wood products from your house, and the wood used to build your house structure, so that you can "feel good" about where you live.  Don't heat with wood when the petroleum runs out and you get cold.

Sat, 03/09/2013 - 11:22 | 3314759 MSimon
MSimon's picture

If those virgins stand still they are going to get nailed.

Sat, 03/09/2013 - 12:07 | 3314836 luckylogger
luckylogger's picture

I logged for over 20 years and whenever anybody asked if we cut virgin forests...........

I always said they are all virgins until they are cut.

Sat, 03/09/2013 - 10:06 | 3314663 viator
viator's picture

I doubt if is there is twenty acres of virgin forest in both states. Virgin forest is very rare. There are only a few scattered plots in the Eastern US.

Not only are they cutting non-existent virgin forest they are "clear" cutting it, that's terrible.

Sat, 03/09/2013 - 18:25 | 3315727 DoChenRollingBearing
DoChenRollingBearing's picture

I have read, but cannot confirm, that there is NO virgin forest in Maine.  Maine is bigger than you might think (almost as big as the rest of New England combined), yet the whole state has been logged over at least once.

If Maine has no virgin forest, then there would be VERY LITTLE east of the Rockies.  Some of my ancestors helped log over Minnesota and Washington state.

Sat, 03/09/2013 - 12:16 | 3314861 verum quod lies
verum quod lies's picture

The greatest pressure on the environment comes from population pressure, as well as certain groups of humans that largely do not appreciate things like the environment. Since the borders were effectively thrown open we've added somewhere around 100 million people (i.e., including their offspring). Those tens of millions of new "Americans" and their offspring and their offspring's offspring etc. will keep putting pressure to cut trees and consume resources until we look like the places from which these people came (e.g., Mexico, India, China, Nigeria, etc.). Just imagine our schools, environment etc. without that added population pressure as well as the mix of our elected representatives without so many natural socialist/communist voters who view the country as an economic jackpot to be used and exploited until it is time to move on to another host. "Demography is destiny" and today in the U.S. (i.e., given the types of people imported) it means a good deal of trees cut down that could still be standing.


Sat, 03/09/2013 - 15:19 | 3315316 blackbeardz
blackbeardz's picture it's the people!  -not the corporations, ok got it.

The greatest pressure on the environment comes from CORPORATION pressure, as well as certain groups of CORPORATIONS that largely do not appreciate things like the environment. Since the borders were effectively thrown open (FREE TRADE) we've added somewhere around 100 million CORPORATIONS (i.e., including their offspring). Those tens of millions of new "Corporations" and their offspring and their offspring's offspring etc. will keep putting pressure to cut trees and consume resources until we look like the places from which these corporations came (e.g., Mexico, India, China, Nigeria, USA etc.). Just imagine our schools, environment etc. without that added CORPORATION pressure as well as the mix of our elected BOUGHT representatives without so many natural CRONY/CAPATILIST CORPORATIONS who view the country as an economic jackpot to be used and exploited until it is time to move on to another host. "Demography is destiny" and today in the U.S. (i.e., given the types of CORPORATIONS) it means a good deal of trees cut down that could still be standing.

Sat, 03/09/2013 - 16:57 | 3315552 Totentänzerlied
Totentänzerlied's picture

Do you know what a bottom line is? Even KBR/Haliburton has to sell something, eventually, or it would cease to exist.

Sat, 03/09/2013 - 19:00 | 3315789 verum quod lies
verum quod lies's picture

Yes, indeed people cause pressure on the environment (e.g., India vs. Canada). Also, we hardly have 'free trade'; and I hate to inform you that corporations in and of themselves are not the issue, that is, unless or until they become monopoly or cartel like in their actions. For example, Warren Buffet is a well connected person who uses those connections and the connections of the companies he controls to assure himself that he will not lose out on a bet/investment that he makes through an artificial entity called a corporation. I know this might be challenging for you but people demand stuff like food and housing and more people means, gasp, more demand for stuff whether or not provided by private individuals, private corporations or a red Chinese front company. It is just that some forms of entities responding to perceived demand don't always clean up after themselves and some people don't do such a good job either. Also, incidentally, much of the worst pollution caused in the history of the planet was done by government and especially socialist/communist ones (e.g., the Soviet Union or Red China today).

Sat, 03/09/2013 - 23:30 | 3316262 blackbeardz
blackbeardz's picture

and who organizes all this pressure the "people cause on the environment"? if you chose the people over corporations as the cause your "bottom line" is facisim. The bottom line sounds alot like "the end justifies the means". "much of the worst pollution" is a wide open statement so stuff that one too. How much of the " little of the worst pollution" do you attribute to western gov't? Go back to your eugenics board hangout please.

Sat, 03/09/2013 - 18:09 | 3315696 de3de8
de3de8's picture


Sat, 03/09/2013 - 08:23 | 3314535 nmewn
nmewn's picture

Warren Buffet, National Socialist/Crony Capitalist.

Sat, 03/09/2013 - 17:20 | 3315604 Kirk2NCC1701
Kirk2NCC1701's picture

I'd say "Crony Capitalist", who knows how to use the Socialists as his sock puppets, per Hedgeless_Horseman's pic above.  He's a capitalist in socialist's clothing, to fool Obama and Dem sheep.

Sat, 03/09/2013 - 08:38 | 3314547 rbg81
rbg81's picture

Sorry, but the prairie dog can go fuck itself.  I want my cheap gas.  And if you're trying to make my gas expensive, screw you too.

Sat, 03/09/2013 - 08:57 | 3314564 GetZeeGold
GetZeeGold's picture



Well it's a good thing you're not in charge then. Like walking 5 miles to and back from the grocery store is going to hurt you any.


If it makes you feel any better...studies have shown it may help the spotted owls as well....we think.

Sat, 03/09/2013 - 09:22 | 3314588 rbg81
rbg81's picture

Most of these environmentalists are completely full of shit.  Not all, but the vast majority.  Because they base their arguments on emotion and politics, not science.  They bitched and moaned about the Alaska pipeline and there was zero environmental impact.  Drilling in Anwar is the same thing--you're only talking a very small slice of land.  The Keystone pipeline is long, but tiny from a land use perspective.  

You want to talk environmental impact:  how many animals get killed every year due to cars?  I don't see anyone volunteering to stop driving.

Sat, 03/09/2013 - 09:34 | 3314608 Middle_Finger_Market
Middle_Finger_Market's picture

Cheap gas, hoes and money...oh America. What have you become or rather what were you all along that we are now starting to see.

Sat, 03/09/2013 - 09:36 | 3314610 Middle_Finger_Market
Middle_Finger_Market's picture

The answer is desperate. 

Sat, 03/09/2013 - 10:20 | 3314683 rbg81
rbg81's picture

Hey Middle-Finger,

The people who ACTUALLY BUILT this country didn't give a shit about the prairie dog either.  They cared about making their fortunes and making the country great at the same time.  Our problems started when we started caring more about snail-darters than about what civilization really needs.  That being said, I think we need to national parks, wildlife preserves, and protect real endangered species.  We also need reasonably clean water and air (vs. setting impossible & insanely expensive standards that have zero bearing on people's actual health).   But its a sad commentary when we can't get things done that need doing due to made up environmental BS--which is probably 95% of what you hear about.  

Sat, 03/09/2013 - 11:19 | 3314749 Strut
Strut's picture

The people who ACTUALLY BUILT this country didn't give a shit about the African slaves, Native Americans, Buffallo, Eastern Elk, or any 1 of the other 100's of extinct species of North American plant and wildlife either.

There fixed it for you.

What civilization *REALLY* needs is fucks like you to go extinct.

Sat, 03/09/2013 - 11:24 | 3314766 MSimon
MSimon's picture

Are you of reproductive age?

Sat, 03/09/2013 - 11:55 | 3314815 Strut
Strut's picture

Are you looking to be my baby momma?

Sat, 03/09/2013 - 13:42 | 3315021 Middle_Finger_Market
Middle_Finger_Market's picture

Hey rbg81,

I appreciate your opinion, you're right the founding fathers of the great land of the US of A and it is (was) great were right in the middle of the industrial age and they capaitalised on that. Yes enviromental issues were put on the side lines for progress, that's how we as a species were evolving and thanks to the hard work of those gents we are here now, were we are today. So no complaints. Unfortunately your particular mindest along with the likes of Buffet et al crony capitalists we have moved beyond the industrial age. We have moved beyond the destruction of enviroment is progress and to a new paradigm of growth prospects, where oil and cheap money created via a debt system are no longer relevant to society as a whole. Where state and religeon need not be our point of call or worship or becon of future direction but rather self perpetuation in terms of global business ethics. Buffet has none. Paper is money and money is paper, we print paper with ''save trees'' as our ethics... I mean really!? Technology obviously plays a part in the future...crony politics and capitalism does not. Enviroment and progress must go hand in hand...where else is there to go? I mean at the end of the day we are a pin head in the grand scheme...we are the earth which is our only home and the earth is us. Contemplate my words while I cotemplate yours.



Sat, 03/09/2013 - 11:55 | 3314817 rbg81
rbg81's picture

Me go extinct?  Well, never say never.  But at least I remembered to reproduce a few times.  Unlike many of the Environmentally correct (or Politically correct) shitheads who are so guilt ridden about their own pathetic existence that they won't have any kids.  

Oh, yeah:  they can go fuck themselves too. 

Sat, 03/09/2013 - 13:43 | 3315023 Slartibartfast
Slartibartfast's picture

Everyone focuses on production efficiency, but never talks about consumption efficiency.

Why fix it or upgrade it when it's cheaper to chuck it and buy a brand new one?

Sat, 03/09/2013 - 09:35 | 3314609 cossack55
cossack55's picture

You obviously do not drive in a deer area.  300 lbs. buck thru your windshield at 60 mph = driver in box.

Sat, 03/09/2013 - 09:59 | 3314655 Terminus C
Terminus C's picture

bah, that's child's play.  Try a thousand pound moose.

Sat, 03/09/2013 - 11:19 | 3314751 Scro
Scro's picture

The problem with white tail is that they ain't very bright and will run right in front of you on the HWY. And they try and "jump" your headlights and often end up in the windshield. Antelope are a lot smarter, I don't see them as road kill.

Sat, 03/09/2013 - 13:49 | 3315034 Slartibartfast
Slartibartfast's picture

...and if you see one, there's a darn good chance there's one or two following along behind.

Stop feeding the f-ing deer, idiots! They hang around at night and you're not letting nature weed out the weak and diseased ones! Wolves have consumer rights, too! (Besides, they're really cool too if you do actually spot one or hear them calling at night).

Sat, 03/09/2013 - 10:10 | 3314671 rbg81
rbg81's picture

People hit deer all the time where I live.  The usual outcome is deer dead and car totaled.  Maybe its repairable if you have a large SUV or minivan.  Human fatalities are rare and mostly cause by stupid driving in the snow.  In fact, I'll wager that more people are killed swerving to avoid deer than killed from hitting them.

Sat, 03/09/2013 - 11:21 | 3314756 shovelhead
shovelhead's picture

Y'all city folk gits all worked up over them critters but we un's recycle.

Ever et smoked dillos an possums? That's damn good eatin.

Y'all gits that gas an we gets the trees.

Sat, 03/09/2013 - 11:27 | 3314769 MSimon
MSimon's picture

Wood for trees? That is odd.

Sat, 03/09/2013 - 20:45 | 3315971 DangerClams
DangerClams's picture

You ate smoked dildos?


I assume they were pole-smoked dildos.

Sat, 03/09/2013 - 09:19 | 3314582 cossack55
cossack55's picture

....and when the bees are gone, maybe you will get off your fat lazy ass to fertilize some plants for usless things like food.  What a maroon.

Sat, 03/09/2013 - 08:39 | 3314550 Taint Boil
Taint Boil's picture



.....and if it can save just one prairie dogs life...

Prairie Dog vs 50 Cal   -- Not for Tree Huggers

Sat, 03/09/2013 - 09:15 | 3314579 Translational Lift
Translational Lift's picture

Prairie Dog vs 50 Cal   -- Not for Tree Huggers

Tree Huggers v 50 cal.

There....fixed it for ya..........

Sat, 03/09/2013 - 09:22 | 3314586 GetZeeGold
GetZeeGold's picture



Pardon me sir....but if we kill all the golfers, they'll lock us up and throw away the key.

Sat, 03/09/2013 - 11:28 | 3314772 MSimon
MSimon's picture

I thought golfers liked a hole in one.

Sat, 03/09/2013 - 13:40 | 3315017 dark pools of soros
dark pools of soros's picture

can we get any CDS/ETF insurance hedge on bees/prairie dogs biting it?

Sat, 03/09/2013 - 09:21 | 3314587 cossack55
cossack55's picture

Taint Boil vs drone with hellfire


bye-bye Taint and don't forget your Barrett

Sat, 03/09/2013 - 14:40 | 3315195 A Nanny Moose
A Nanny Moose's picture

Great green gobs of greasy grimey gopher guts....

Sat, 03/09/2013 - 11:06 | 3314736 Teamtc321
Teamtc321's picture

I just got back in from feeding cattle, smoked a few hole digging, leg breaking prarie dogs while doing so. If you whistle just right, the dogs will poke their heads up just long enough to see what is going on......Bang!!! Kind of reminds me of how gun grabbers argue their Alinsky Tactics on how we should "Compromise" our gun rights away. Sneaky little varmits take just the right tone to poke their beady eyed little heads out.


Here in TX, We Buy Silver and Gold and Lock and Load. < I got that from a fellow ZHer last night. I love it, lol.

Sat, 03/09/2013 - 12:55 | 3314940 IrritableBowels
IrritableBowels's picture

The late afternoon before my last day in high school, me and a buddy snared about a dozen gophers (twine in a slipknot, placed around diameter of hole, stand back and whistle), threw them in a fifty-five gallon drum and waited until nightfall.  The school principal's backyard had new landscaping the following day.

Sat, 03/09/2013 - 18:13 | 3315703 de3de8
de3de8's picture

Yeah, kinda like feeding squirrels and see how many you can pick off before they realize something's up.

Sat, 03/09/2013 - 11:15 | 3314747 markettime
markettime's picture

My personal best shot on a prairie dog was almost 700 yards. 

Sat, 03/09/2013 - 12:26 | 3314880 verum quod lies
verum quod lies's picture

Here is how that looks with a 50 BMG:

There are some Congresscritters that look a good deal like rodents, for example we have a human rat:

Anyway, why bring a knife when you could have a 50 BMG?


Sat, 03/09/2013 - 12:16 | 3314858 ToNYC
ToNYC's picture

So you are the one: the prairie dog savior of expensive gas patriot! Welcome to the dark closet of environ-mental perfectionism.

Sat, 03/09/2013 - 14:13 | 3315097 A Nanny Moose
A Nanny Moose's picture

Evolution is great, so long as nothing dies out. Can't wait to see the reaction, once we discover microbes on Mars.

/sarcasm -off

Sun, 03/10/2013 - 12:23 | 3317022 orez65
orez65's picture


The world you seek, low energy, will require the termination of 6.8 billion humans, out of the current 7 billion humans populating Earth.

I think that "mis-informed" is a better description of you.

Sat, 03/09/2013 - 08:36 | 3314549 JonNadler
JonNadler's picture

If I were Buffet I'd be trying to corner the funeral home market

Sat, 03/09/2013 - 09:22 | 3314581 Translational Lift
Translational Lift's picture

I can't wait till the worms buffet on Buffet................

Fucking slimeball....

Sat, 03/09/2013 - 15:47 | 3315396 r3phl0x
r3phl0x's picture

Don't worry; some other rich asshole will quickly replace him. It's crony capitalists all the way down.

Sat, 03/09/2013 - 16:31 | 3315496 holdbuysell
holdbuysell's picture

If he corners the railroad market, he may become so rich that his name no longer is listed on the Forbes wealthiest, i.e. Rockefellers, Rothschilds, etc.

Sun, 03/10/2013 - 21:53 | 3318272 MoneyChasingReturns
MoneyChasingReturns's picture

We can complain about the political leadership or take care of our own business and assets and make money to thrive. There are so many ways to make money off this, so stop complaining. I know a place where the port price of Gasoline is under $5.30 including taxes and the price at the pump between $8-9, and large mining businesses in remote locations are happy to pay more if delivered to them. Its about $35,000 for a truck and $80,000 for a trailer. Each gasoline load pays $25-35,000 in profit and you can run 3-5 loads a week. You dont need an insurance company and a bank to make large returns in the world. Just about $150,000 in capital to earn $1 million per year. This isn't rocket science its real business.


If anyone is interested in making money do so, if you are interested in complaining go vote democrat and watch try to live off social security when it buys one bowl of oatmeal a day. I'll be in monaco with my money safely producing and creating good paying jobs in the world.

I'm driven, smart and always seeing oppertunity everywhere. If anyone has the same skillset/mind lets talk.

Sat, 03/09/2013 - 07:30 | 3314491 blackbishop
blackbishop's picture

It's a shame that this guy passes as the greatest investor of all times, speculator is the word.

Sat, 03/09/2013 - 07:32 | 3314493 Motorhead
Motorhead's picture

That's because of all of the media snow jobs.  He's politically connected with the slime in the District of Criminals.  Period.

Sat, 03/09/2013 - 12:07 | 3314837 rqb1
rqb1's picture

He is going to be written in the same paragraph as the Knife, the Gorilla and Jamie the Greek. 

Too bad there was a time where he was the real deal,  now his legacy is bound with this crowd. 

He should have held his physical ag and not joined their club. 

Sat, 03/09/2013 - 09:54 | 3314583 Translational Lift
Translational Lift's picture

The only reason Buffet bought BN was because he already had obammey in his hip pocket knowing that the pipeline would be nixed and then his tankers would transport the Canadian oil!

Sat, 03/09/2013 - 09:29 | 3314596 malikai
malikai's picture

Buffet does not speculate.

All of his bets are sure things.

Sat, 03/09/2013 - 09:50 | 3314642 Translational Lift
Translational Lift's picture

All of his bets are sure things.

Correct....His main investments are the politicians........

Sat, 03/09/2013 - 09:54 | 3314649 machineh
machineh's picture

When you make 100-to-1 returns buying Depublicrats, it's pretty damned hard to lose.

Sat, 03/09/2013 - 11:01 | 3314731 Translational Lift
Translational Lift's picture

Too bad he didn't take after his father....

Howard Homan Buffett (August 13, 1903 – April 30, 1964) was an Omaha, Nebraska businessman, investor, and four-term Republican United States Representative. He was the father of Warren Buffett, the billionaire investor.

Contents Early life

Howard Buffett was born in Omaha, Nebraska to Henrietta Duvall Buffett and Ernest P. Buffett, owners of a grocery business. The Buffetts were of Huguenot ancestry. Howard Buffett attended public schools and graduated from the University of Nebraska in Lincoln, Nebraska in 1925. While a student, Buffett was a brother of the Alpha Sigma Phi Fraternity. Buffett married Leila Stahl on December 27, 1925. The Buffetts were active members of Dundee Presbyterian Church.[1] After failing to secure a job in the family grocery business, Howard Buffett started a small stock brokerage.[2]


Entering the investment business, Buffett also served on the Omaha board of education from 1939 to 1942. In 1942 he ran for the U.S. House of Representatives in the Nebraska district in which Omaha was located. In that election, Buffett was seen as "a Republican sacrificial lamb in Nebraska’s second district when FDR was a popular wartime leader."[3] Nevertheless, he went on to win the Republican nomination in the primary and then the subsequent general election.

He was reelected twice. In 1948 he again was the Republican nominee for another term, but was defeated for reelection; however, he was the Republican nominee for the office again in 1950 and won the office back. In 1952 Buffett decided against seeking another term and returned to his investment business in Omaha, Buffett-Falk & Co., in which he worked until shortly before his death.[4] He also served as the campaign manager for conservative Senator Robert Taft in Taft's 1952 presidential campaign.[5]

According to Warren Buffett biographer Roger Lowenstein:

“ 'Unshakably ethical, Howard refused offers of junkets and even turned down a part of his pay. During his first term, when congressional salary was raised from $10,000 to $12,500, Howard left the extra money in the Capitol disbursement office, insisting that he had been elected at the lower salary.' His wife said he considered only one issue when deciding whether or not to vote for a bill: 'Will this add to, or subtract from, human liberty?'[3]Political philosophy

Howard Buffett is remembered for his highly libertarian Old Right stance, having maintained a friendship with Murray Rothbard for a number of years.[6] He "would invariably draw 'zero' ratings from the Americans for Democratic Action and other leftist groups."[7]

Buffett was a vocal critic of the Truman Doctrine and the Marshall Plan.[3] Of the Truman Doctrine, he said: "Our Christian ideals cannot be exported to other lands by dollars and guns."[8] Buffett was also "one of the major voices in Congress opposed to the Korean adventure,"[7] and "was convinced that the United States was largely responsible for the eruption of conflict in Korea; for the rest of his life he tried unsuccessfully to get the Senate Armed Services Committee to declassify the testimony of CIA head Admiral Roscoe H. Hillenkoetter, which Buffett told [Rothbard] established American responsibility for the Korean outbreak."[9]

Speaking on the floor of Congress, he said of military interventionism that,

“ Even if it were desirable, America is not strong enough to police the world by military force. If that attempt is made, the blessings of liberty will be replaced by coercion and tyranny at home. Our Christian ideals cannot be exported to other lands by dollars and guns. Persuasion and example are the methods taught by the Carpenter of Nazareth, and if we believe in Christianity we should try to advance our ideals by his methods. We cannot practice might and force abroad and retain freedom at home. We cannot talk world cooperation and practice power politics.[9][10]

In the summer of 1962, he wrote "an impassioned plea... for the abolition of the draft" in the New Individualist Review.[5] Buffett wrote:

“ When the American government conscripts a boy to go 10,000 miles to the jungles of Asia without a declaration of war by Congress (as required by the Constitution) what freedom is safe at home? Surely, profits of U.S. Steel or your private property are not more sacred than a young man's right to life.[5]

In addition to non-interventionism overseas, Howard Buffett strongly supported the gold standard because he believed it would limit the ability of government to inflate the money supply and spend beyond its means.[11] His son Warren Buffett is not an advocate of the gold standard.[12][13]

Sat, 03/09/2013 - 12:14 | 3314857 Mark123
Mark123's picture

Well, that's all great, but did he support Israel 100%?  If not, then he was an evil, terrorist loving scum bag and all references to him must be struck from the record forever....I'll go even further - drone his grave!

Sat, 03/09/2013 - 07:32 | 3314492 Snoopy the Economist
Snoopy the Economist's picture

Relax, he'll die soon and some other greedy corrupt A-hole will be there to point at.

Sat, 03/09/2013 - 07:36 | 3314494 Inthemix96
Inthemix96's picture

What puzzles me about the likes of buffet is when is enough, enough?

Fuck knows how many billions he has tucked away but for what?  What would you or I DO, with a billion quid?  Its fucking outright greed and power lust in my eyes.

Fuck off and die buffet, you and all liked minded fucking psycopaths who know the price of everything, yet the value of nothing.  Get out of humanities way for fucks sake you pathetic cunts.

How much fucking money does one man need for fucks sake??

Sat, 03/09/2013 - 07:46 | 3314505 Henry Hub
Henry Hub's picture

It's like the Walton family that inherited Wall-mart. You would think that after they lock in their next billion that they could give their employees a raise across the board so they could get off food stamps. Indeed, when is enough, enough?

Sat, 03/09/2013 - 07:53 | 3314514 GetZeeGold
GetZeeGold's picture



It's not so much about having money than it is getting to screw with everyone else's lives.


I'll put it another way....why does Mayor Bloomberg even want to be in public service in the first place?

Sat, 03/09/2013 - 08:29 | 3314543 ParkAveFlasher
ParkAveFlasher's picture

With enough "laws", you control markets.  Bloomberg is in a position to sway prices in one of the world's top real estate markets.  He can do this - or at least exercise influence - by having all city services either report to him directly or to agencies that he has exclusive access to.  He exerts power via budget, he impacts markets by giving or taking via that budget.  He can keep hospitals open, or close them.  He can impact police presence in certain areas.  He can spur development.  The kicker is access to information, which Bloomberg has sharply assessed as supremely valuable as a life mission.  He can declare market shutdowns on grey weather days.

Sat, 03/09/2013 - 08:59 | 3314568 negative rates
negative rates's picture

Ahh, but he can force a city gang to turn in their weapons?

Sat, 03/09/2013 - 09:12 | 3314576 GetZeeGold
GetZeeGold's picture



Not yet....but you now have to put your own sugar in your coffee if you want's the freakin law even if you're a gang member.

Sat, 03/09/2013 - 12:30 | 3314887 MrButtoMcFarty
MrButtoMcFarty's picture

Any bodega in NYC will still make your coffee "regular" at your request.


Bloomberg is an asshole but that doesn't justify the blatant bullshit falsehoods.

Sat, 03/09/2013 - 11:29 | 3314776 thewhitelion
thewhitelion's picture

"public service"  Good one!

Sat, 03/09/2013 - 08:15 | 3314531 Inthemix96
Inthemix96's picture


Let me tell you a tale from my job.  I own a window cleaning business, and over here in Blighty I do all sorts of work, from county council work, local government buildings, very expensive folks homes right down to what we call 'council estates'.  From what I have read on here you would call it section 8 I think.

Jist of the mill work, but I clean a few old miners cottages where I dont charge them anything, because I know they cant afford to pay me, and to make it worse I know of other folk who spend the day riding around on buses who havent got the money to heat their homes and eat.  You imagine that?  We have 'Food Banks', and some of the folk who use them are fucking working??

And it makes me wonder why one man such as buffet would need not one, but fucking multiples of billions of pounds?  Whats the fucking point?  He cannot possibly spend it so yes give the workers a fair pay and get them off food stamps.  Its a profoundly sick world we are living in mate, its up to us to stop it.

Sat, 03/09/2013 - 11:55 | 3314816 Seize Mars
Seize Mars's picture

Inthemix96: I think your observations are astute. First of all, I would say that I just read a great short post here on ZH that is relevant:
The Defamation Of Independence, Or Getting Nothing For Something

"...One of the great ironies of the way that politics and economics is conducted in our “modern” societies is that the great majority of those who are lured into going along with the game by the promise of “something for nothing” end up in a situation where their payoff is 'nothing for something'..."

The thing is, if Buffet were to perform a superior service, or take smart risks, guessing right, or some such, then his wealth would be a badge of honor, and well deserved. But he hasn't, and it isn't. He has made money through cronyism, which is a hidden tax. A tax on the people who can least afford it, such as the good people you mentioned. It's dishonest and disingenuous, because he tries to paint himself as a risk-taker, but he isn't.

The important 'breakthrough' realization is that poverty is not a natural state of affairs - poverty is caused by the State. I salute you, because in your window business you are part of the solution! Everything you do creates prosperity. The State takes as much of your productivity as possible - direct taxes, inflation of your savings, and crony deals with sweethearts like Buffet.

Keep on truckin', man.

By the way, weren't Wallace and Gromit window washers as well?

Sat, 03/09/2013 - 14:05 | 3315069 Inthemix96
Inthemix96's picture

Cheers mars.

Not all of us are motivated by the love of green.  I do what I can, when I can, as often as I can.

And yes mate Wallace and Gromit did partake my chosen profesion

All the best mate, from this of the pond.

Sat, 03/09/2013 - 10:30 | 3314697 grid-b-gone
grid-b-gone's picture

In part, food stamps are a corporate subsidy. They allow Wal-Mart to pay a lower wage without forcing workers to look for better-paying jobs.

They increase total demand for food and boost GDP. Growers and distributors see increased total volume due to the program. This increases the demand for illegals and migrant workers, again boosting GDP and creating school and social services requirements, another GDP boost.

All these factors create demand for more government workers and regulators.

This is one of the core problems with Keynesianism, at least as practiced by this administration. Instead of augmenting lost demand during a recession, this administration has taken steps to permanently replace market demand with governmental intervention, understanding full-well that a dependent vote is a vote that can be counted upon.     

Sat, 03/09/2013 - 07:46 | 3314506 CunnyFunt
CunnyFunt's picture

It's not outside the realm of possibility that we all become "billionaires" in the not-too-distant future.

Sat, 03/09/2013 - 07:57 | 3314518 Esso
Esso's picture

Yeah, but Warnie, the Waltons and Gates will be quadrillionaires.

On a long enough timeline...

Sat, 03/09/2013 - 08:07 | 3314523 CunnyFunt
CunnyFunt's picture

That's the part when barren wuffet fondles his cube of gold.

Sat, 03/09/2013 - 08:14 | 3314530 Id fight Gandhi
Id fight Gandhi's picture

You're right. "Camel through the eye of a needle."

He enjoys the petty adulation in the press and constant fawning over every word he says as though the average guy can learn something to grow a business or make a ton in the stock market.

Truth is, his REAL dealings are hidden or sweetheart deals only for him.

But I really think when he's finally gone, there will probably be a lot of shady things finally come to light.

Sat, 03/09/2013 - 08:16 | 3314532 negative rates
negative rates's picture

Actually it will take alot more than that to slow him down. We need lots o money so we can change the laws back to where they belong. He has run rampant over this planet and will have to be held accountable.

Sat, 03/09/2013 - 08:59 | 3314567 css1971
css1971's picture

It's never enough. These people are empty inside.

Having said that, what he'll do is move petroleum from where it's cheap and plentiful to where it's expensive and scarce. Basically a good thing. So even though he's rich, probably a psychopath and emotionally empty he's doing good for humanity.

The problem is he can influence government to prevent others from doing the same thing better and cheaper. And a government maintained monopoly is how you get really rich.

Sat, 03/09/2013 - 09:58 | 3314654 machineh
machineh's picture

'a government maintained monopoly is how you get really rich'

Exhibit A: the Mainstream Media.


Sat, 03/09/2013 - 09:08 | 3314574 Downtoolong
Downtoolong's picture

I think what you are all getting at is this: Once you have a certain amount of money (more than you can ever spend or want for yourself in ten lifetimes) your interest then shifts to power. It's something you have always craved, but for some inexplicable reason had a harder time acquiring than those f&*cking idiot dweebs who are in power.

And there's that old adage too; "Money flows to power, not the other way around". Buffett probably recites that one 100 times each night before he goes to bed, after he's dreamed about Becky Quick in the bathtub. 

Sat, 03/09/2013 - 10:57 | 3314724 sm0k4
sm0k4's picture

It has stopped being about money for a very long time. Money is passe to him at this point. Power grabbing is his new game.

Sat, 03/09/2013 - 17:41 | 3315651 optimator
optimator's picture

Exactly, and in two sentences.  The money get you the power and the power gets you even more money and more power.

Sat, 03/09/2013 - 13:50 | 3315035 WmMcK
WmMcK's picture

Just a little bit more?

Sat, 03/09/2013 - 07:45 | 3314504 Rusty Trombone
Rusty Trombone's picture

Hello John D. Rockefeller.

The more things change the more they stay the same.  BITCHEZZZZZZ.

Sat, 03/09/2013 - 07:47 | 3314507 Jack Sheet
Jack Sheet's picture

Very eloquently put, sir.
It's all about control - check out Lindsey Williams's posts, you will need a bit of patience but he outlines the 10 point agenda of the power elite.
They will not stop until they control everything - energy, debt, the food supply, housing, information...
There is a long way to go yet.

Sat, 03/09/2013 - 07:59 | 3314519 Inthemix96
Inthemix96's picture

Cheers jack.

I have seen some of lindsey williams work and understand what you are saying, but jesus H christ himself would wonder what one man needs a billion quid for, I know I probably couldnt spend it.

This bunch of fucking inside trading, nation wrecking parasites should fuck off and leave us alone.  Its about time we stopped this shit.

Sat, 03/09/2013 - 08:07 | 3314526 Poor Grogman
Poor Grogman's picture

Farn carns!

Do the french still produce reasonable guillotines? Looks like they might be in for an export led recovery after all...

Sat, 03/09/2013 - 11:00 | 3314730 GMadScientist
GMadScientist's picture

666,666.67 toz

Sat, 03/09/2013 - 07:54 | 3314516 Go Tribe
Go Tribe's picture

What fucking rabbit hole have we gone down?

Sat, 03/09/2013 - 08:03 | 3314522 swabeyjw
swabeyjw's picture

The way I hear the story, is that in -40 C winters heavy thick oil is a bit of a issue to push through a pipeline. There is a fraction of the oil that can be loaded in rail cars hot from production and then will flow without heat at the golf coast.

I am always a sucker for a Hollywood story.

Sat, 03/09/2013 - 09:29 | 3314595 cossack55
cossack55's picture

Read a story ( from a small Canadian producer that it costs $7-$9 more per barrel to ship vis pipeline for thinner processing than to ship by rail.  Is the pipeline a jobs program or a stable target for a false flag?  Who knows, who cares. 

Sat, 03/09/2013 - 11:55 | 3314814 NoWayJose
NoWayJose's picture

Not believable numbers, especially since there is no pipeline yet! Pipelines move LOTS of oil cheaply. If a small producer is near a railway but not on the pipeline route, then I could believe it. Just the labor and equipment of loading and unloading each car separately would be more costly.

Sat, 03/09/2013 - 09:35 | 3314607 NoWayJose
NoWayJose's picture

If they can work out moving oil via pipeline from Prudhoe Bay, then moving it across North Dakota and southern Canada is not a problem. And yes, they heat the oil. Fortunely, there are no caribou herds or permafrost to worry about.

Sat, 03/09/2013 - 13:05 | 3314951 Kayman
Kayman's picture

Heavy oil is diluted so that it flows easily. It is called dilbit.

Sat, 03/09/2013 - 08:13 | 3314529 negative rates
negative rates's picture

People like Ichan and Buffett are not to totally trusted, they are in a similar position to the Rockerfellers bunch of the roaring 20's. And it was those people who withdrew their money quickly and crashed the mkt when no one could step up to the plate and replace them. Money chases the mkt because it has no where else to find yield, pull the carpet out from underneath, and it's crashola time. 

Sat, 03/09/2013 - 08:26 | 3314541 Id fight Gandhi
Id fight Gandhi's picture

Seeing very early morning weekend stories, hope ZH is doing all right.

I know with the record nominal stock highs day after day, and the constant delusional MSM saying everything is all better now is hard to hear. We're all made out to be the fools who missed market surge. But I support and believe in ZH and the regular posters here. Truth is a powerful thing.

Bear witness, because we're living in unholy, unnatural times.

Sat, 03/09/2013 - 08:29 | 3314542 Inthemix96
Inthemix96's picture

Bear witness indeed Ghandi,

Its gonna be us who cleans this shit up.

Sat, 03/09/2013 - 09:03 | 3314571 SmallerGovNow2
SmallerGovNow2's picture

clean up our little piece of it anyway.  fuck all the other eaters who don't do shit...

Sat, 03/09/2013 - 09:44 | 3314627 Winston of Oceania
Winston of Oceania's picture

That is why their Gub'ment now calls them "consumers". Think on that a while, what does that actually mean? What happens to said "consumer" when they have a net negative effect on the various "systems" or better stated "Organs" of the State. Let me tell you from lessons of the past, the consumer is done away with so that we can collectively move FORWARD comrades always we must move FORWARD...

Sat, 03/09/2013 - 14:46 | 3315208 resurger
resurger's picture


Sat, 03/09/2013 - 08:38 | 3314552 Its_the_economy...
Its_the_economy_stupid's picture

This is not a petroleum issue. This is not a rail vs. pipeleine issue. This is a demand for Canadian water in exchange for an American petroleum market, nothing more, nothing less.

This country must have water from the St JAmes waterway. We must have it now. We will not stop till we get it.

Sat, 03/09/2013 - 09:10 | 3314575 falak pema
falak pema's picture

water for Nevada, CA...? where is it required bad?

Sat, 03/09/2013 - 11:25 | 3314761 Its_the_economy...
Its_the_economy_stupid's picture

The aquifer under the nation's breadbasket will be pumped dry by 2040 at the latest. The farm exports are the only thing holding up exports besides war equipment. Dry-till farming cannot produce 200 bu/acre corn. 

Clinton had negotiated transfer of water from Canada w Pierre Trudeau but the it failed referendum w the Canadians.

Time is running out.

As w most things, the real issues don't even make newsprint, nothing new to ZH'ers.

Sat, 03/09/2013 - 13:11 | 3314972 Kayman
Kayman's picture

The North American Water and Power Alliance (NAWPA or NAWAPA, also referred to as NAWAPTA from proposed governing body the North American Water and Power Treaty Authority) was conceived in the 1950s by the US Army Corps of Engineers as a 'Great Project' to develop more water sources for the United States. The planners envisioned diverting water from some rivers in Alaska south through Canada via the Rocky Mountain Trench and other routes to the US and would involve 369 separate construction projects. The water would enter the US in northern Montana. There it would be diverted to the headwaters of rivers like the Colorado River and others. The water would generate hydro-electricity during its trip via dams. The water supply would double the total amount of fresh water available to lower 48 states with its major focus being on the western states. This would solve the water shortage problems of the west for the foreseeable future.

NAWAPA has been around for 60 years.

Sat, 03/09/2013 - 13:42 | 3315019 MeBizarro
MeBizarro's picture

This is a complete nonstarter.  Besides all fo the environemental issues this plan would encounter, it would requires massive levels of capital that would either have to come from the U.S. gov't or U.S. govt-backing assurances for private capital, Canadian approval which is highly unlikely, and massive power generation to divert water up hill in several areas. 

Sat, 03/09/2013 - 08:48 | 3314560 Bicycle Repairman
Bicycle Repairman's picture

Buffet formula for investing circa 2013:

1. Be a billionaire

2. Purchase politicians

3. Profit.

Can't wait to try this with my portfolio.

Sat, 03/09/2013 - 09:38 | 3314617 Winston of Oceania
Winston of Oceania's picture

Ah, Warren Taggart now things are a bit clearer.

Sat, 03/09/2013 - 08:49 | 3314561 awakening
awakening's picture

Textbook definition for the term 'Conflict of Interest'.

Unfortunately; the textbooks are all being published by a small group of publishers that also operate in the same manner, so I doubt classrooms anywhere will see that in print within my lifetime.

Sat, 03/09/2013 - 09:08 | 3314565 falak pema
falak pema's picture

the Oligarchy in all its simplicity; Marcus Licinius Crassus. The man who slaughtered Spartacus and then went "one bridge too far" at Carrhes...Member of the first Triumvirate with Caesar and Pompei; which exploded at his death and led to Rubicon...

Maybe there is a lesson there! 

Some background on this rail thingie : Oil Train Revival: Booming North Dakota Relies on Rail to Deliver Its Crude (Courtesy of NG/Shell...)

Sat, 03/09/2013 - 09:37 | 3314615 Winston of Oceania
Winston of Oceania's picture

Existing pipelines to be repurposed to carry Soylent Green...

Sat, 03/09/2013 - 09:12 | 3314577 Grin Bagel
Grin Bagel's picture

RE: Visual from IaaMIa, it was wonderful. The tank cars turned into black helicopters  for a moment, and helped me realize that I may need to get a life.....yet again!

Sat, 03/09/2013 - 09:17 | 3314580 NoWayJose
NoWayJose's picture

I definitely confirm the North Dakota oil trains. I got stopped at a crossing in Minnesota recently and saw a couple hundred shiny new oil tanker cars roll past. Assuming Buffett bought all those cars, he is not going to want to turn them into scrap metal when a pipeline comes. So it's not only about profits from moving the oil, it's also about Buffett not losing his investment in the tanker cars.

Sat, 03/09/2013 - 09:27 | 3314592 Edward Fiatski
Edward Fiatski's picture

Rearden Metal is Good.

Sat, 03/09/2013 - 09:32 | 3314600 cossack55
cossack55's picture

The "Thompson Harmonizer" is BAD.

Sat, 03/09/2013 - 09:28 | 3314594 Crazed Smoker
Crazed Smoker's picture

Oye the stink of it.

Sat, 03/09/2013 - 09:47 | 3314636 Silverhog
Silverhog's picture

I'm so sick of seeing market stories like "Buffet's top 10 picks for 2013" Who gives a fuck what Buffet picks including his nose.

Sat, 03/09/2013 - 11:28 | 3314771 Jim B
Jim B's picture

Agree! If he has any real crony capitalist inside information.... He certainly will NOT share it! 

Sat, 03/09/2013 - 09:57 | 3314653 Fix It Again Timmy
Fix It Again Timmy's picture

Concern for the common man by the wealthy:

"The dearly departed Gore Vidal grew up in the lap of luxury. Years ago in an interview, he said that if you heard the way the wealthy talked among themselves about the common man, you would never vote for one of them. Some things never change."

Sat, 03/09/2013 - 10:45 | 3314714 Flakmeister
Flakmeister's picture

Par for the course....

Two comments of any real content and value....

Anybody who thinks that Keystone will lower the price of gas is ignorant of the oil market dynamics. It boils down to CN, CP and the US rails making money or the Kochs from exporting refined dilbit from tax free export zones on the Gulf...

If anything, shipping the oil by rail leads to decent local jobs (a lot more than the temporary ones from the pipeline)...

Sat, 03/09/2013 - 11:36 | 3314781 MSimon
MSimon's picture

We could get a lot more jobs if we could forbid shovels for digging and only allwed teaspoons.

Sat, 03/09/2013 - 12:50 | 3314795 Flakmeister
Flakmeister's picture

True, but they wouldn't pay very well and no one is suggesting that...

Nice strawman...

Sat, 03/09/2013 - 11:36 | 3314783 shovelhead
shovelhead's picture

Paul Krugman recommends unionized, govt. subsidized ox carts.

Sat, 03/09/2013 - 13:37 | 3315010 MeBizarro
MeBizarro's picture

Pretty much.  Any posts on here related to energy or healthcare generate a series of ridiculous comments. 

There is no conspiracy here at all.  The depletion rates for the oil wells in the Bakken area is so great over the first two years at a particular well sight (often more than an 80% decline in production) that it doesn't make economic sense to investment the dollars to build an extensive pipeline to the remote areas where the wells are located. 

Sat, 03/09/2013 - 11:06 | 3314735 blindman
blindman's picture

"..Standard Oil moved its headquarters to New York City at 26 Broadway, and Rockefeller became a central figure in the city’s business community. He bought a personal residence in 1884 on 54th street near the mansions of other magnates such as William Vanderbilt. Despite personal threats and constant pleas for charity, Rockefeller took the new elevated train to his downtown office daily.[47] In 1887, Congress created the Interstate Commerce Commission which was tasked with enforcing equal rates for all railroad freight, but by then Standard was depending more on pipeline transport.[48] More threatening to Standard’s power was the Sherman Antitrust Act of 1890, originally used to control unions, but later central to the breakup of the Standard Oil trust.[49] Ohio was especially vigorous in applying its state anti-trust laws, and finally forced a separation of Standard Oil of Ohio from the rest of the company in 1892, the first step in the dissolution of the trust.[49]" ..

Sat, 03/09/2013 - 11:46 | 3314798 Flakmeister
Flakmeister's picture

Wow, so you can cut and paste....

Could you maybe explain why you think what you pasted is relevant?

Sat, 03/09/2013 - 11:58 | 3314819 blindman
blindman's picture

i thought the parallels and the historic rhyming was
self evident. silly me. don't underestimate the power
of cut and paste.

Sat, 03/09/2013 - 12:52 | 3314933 Flakmeister
Flakmeister's picture

Sorry, Buffet (and CNI) hauling a a small fraction of US production is a very dubious parallel with J.D.....

Sat, 03/09/2013 - 12:16 | 3314863 Mark123
Mark123's picture

So....petroleum usage is way down, and rail car transport of petroleum is way up?  I smell a rat.


I just wonder if the preferred method of stocking and de-stocking the strategic oil reserves is to use uncle Warren's railways???  Just think of all the extra transportation costs to recycle those reserves!!!

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