Guess Who's Reaping The Rewards Of Obama's Axing Of XL?

I'm sure you'll be completely shocked at who stands to benefit from Obama axing a project designed to move oil from Canada and North Dakota to processing facilities down south. Wait until you see who Obama has enriched by this decision...

(IBD) Keystone XL was designed to transport oil from the Canadian tar sands to the Gulf of Mexico. It apparently also would have enabled oil producers in the booming oil fields of North Dakota to ship their product to Gulf refineries more cheaply.

Keystone XL would help to advance further development of the oilfields in the Bakken Shale formation, which has led to an economic boom in North Dakota...

Now Bakken producers say they'll be dependent on railway tank cars — Buffett's railway tank cars.

Many of the rail shipments from the Bakken fields are being handled by Burlington Northern & Santa Fe Railway Co., which has more than 1,000 miles of track in the region.

Buffett's holding company, Berkshire Hathaway, has agreed to buy BNSF in a deal valuing the railroad at $34 billion. Berkshire already owns 22% of Burlington Northern...

That's right...liberal buddy and prop for Obama's demagoguery*, Warren Buffet, stands to gain handsomely from Obama's decision not to give the go-ahead to Keystone XL. Enriching the rich at the expense of thousands of (union) construction jobs and further protection from having to buy oil from terrorists.

Did we mention that Buffet's company still owes the government a billion in taxes?

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*Obama's Big Six State of the Union Tax Myths

• "We need to change our tax code so that people like me, and an awful lot of members of Congress, pay our fair share of taxes."

...As a result, the richest 1% today accounts for 36% of all income taxes paid, while nearly half of taxpayers owe nothing at all, or get cash back. If that isn't fair, Obama owes it to the country to describe just what sort of distribution would be fair.

• "Right now, because of loopholes and shelters in the tax code, a quarter of all millionaires pay lower tax rates than millions of middle-class households."

Even Obama's own Treasury secretary, Tim Geithner, couldn't back up this claim when asked about it by reporters...

• "Right now, we're poised to spend nearly $1 trillion more on what was supposed to be a temporary tax break for the wealthiest 2% of Americans."

The fact is that tax payments by the rich went up during the Bush years, despite the intervening tax cut...

• "Right now, companies get tax breaks for moving jobs and profits overseas."

...The real problem isn't some alleged unfair tax break for unpatriotic companies; it's that the U.S. has one of the highest corporate tax rates in the world, which drives companies to shift operations abroad.

• "We've subsidized oil companies for a century. ... It's time to end the taxpayer giveaways to an industry that rarely has been more profitable."

What Obama is talking about are basic tax credits and deductions available to every other industry...Targeting oil companies for special punishment just because Obama and his environmentalist cronies don't like them is the very definition of unfairness.