Buffet also owns UTLX an oil railcar manufacturer. In fact a couple years ago BNSF dictated that only certain types of oil carrying railcars would be allowed on their tracks. Railcars that they manufacture. This effectively wiped out a huge percentage of oil rail cars in use. UP (Union Pacific) quickly fallowed. BNSF and UP make up a huge percentage of oil moved by rail throughout the West and Midwest.
Keystone being shut down is only part of it. Currently The Dakota Access Pipeline (DAPL) is also shut down for the foreseeable future by court order. This will force a huge percentage of the oil moving out of the Bakken and Williston Basins be moved by rail also. Buffet has essentially taken control of the movement of oil for a huge percentage of the US.
Buffet also owns UTLX an oil railcar manufacturer. In fact a couple years ago BNSF dictated that only certain types of oil carrying railcars would be allowed on their tracks. Railcars that they manufacture. This effectively wiped out a huge percentage of oil rail cars in use. UP (Union Pacific) quickly fallowed. BNSF and UP make up a huge percentage of oil moved by rail throughout the West and Midwest.
Keystone being shut down is only part of it. Currently The Dakota Access Pipeline (DAPL) is also shut down for the foreseeable future by court order. This will force a huge percentage of the oil moving out of the Bakken and Williston Basins be moved by rail also. Buffet has essentially taken control of the movement of oil for a huge percentage of the US.
Don't forget that he also owns a $10B preferred in Occidental with an 8% coupon. Numerous scores in his favor by halting Keystone XL.