In 2010, Warren Buffett’s Berkshire Hathaway acquired BNSF for $26.5 billion. Fueled by crude by rail volumes, BNSF became a cash cow for Berkshire, producing billions. Through a holding company called Marmon, Berkshire also owns Union Tank Car, which owns rail tank cars.
In his 2012 Letter to Shareholders, Buffett noted that both BNSF and Marmon are “benefitting from the resurgence of U.S. oil production” and “all indications are that BNSF’s oil shipments will grow substantially in coming years.”
Buffett has been a high-profile supporter of President Obama who donated and hosted a fundraiser to support Obama’s re-election bid.
In recent earnings reports, however, BNSF has reported being harmed by lower crude by rail volumes. In March, Buffett came out publicly in support of KXL but he doth protest too much methinks, as KXL’s denial serves as a booster to crude by rail.
In 2010, Warren Buffett’s Berkshire Hathaway acquired BNSF for $26.5 billion. Fueled by crude by rail volumes, BNSF became a cash cow for Berkshire, producing billions. Through a holding company called Marmon, Berkshire also owns Union Tank Car, which owns rail tank cars.
In his 2012 Letter to Shareholders, Buffett noted that both BNSF and Marmon are “benefitting from the resurgence of U.S. oil production” and “all indications are that BNSF’s oil shipments will grow substantially in coming years.”
Buffett has been a high-profile supporter of President Obama who donated and hosted a fundraiser to support Obama’s re-election bid.
In recent earnings reports, however, BNSF has reported being harmed by lower crude by rail volumes. In March, Buffett came out publicly in support of KXL but he doth protest too much methinks, as KXL’s denial serves as a booster to crude by rail.