Buffet Displays Hope in America’s Energy Future
Warren Buffet, one of the most respected investors in America, recently purchased Burlington Northern, one of the nation’s largest railroads with some 32,000 miles of track. BN like almost all railroads carries coal – lots of it from the Powder River Basin in Wyoming to the nation’s electrical power plants. But President Obama and his Green allies are trying to end the use of coal in America. If they succeed, the rail sector will collapse.
Buffet, according to the Wall Street Journal weekend edition is “betting on good old fashioned stuff – such as grain, coal for power plants and consumer goods imported from Asia – and the need to move it.” Let’s hope he knows something we don’t – perhaps, Obama is about to do a “Clinton” reversal. That would be good for America, for affordable energy and (ironically) also good for the Democratic party. We can hope.