Blocking pipeline helping wealthy railroads

Blocking pipeline helping wealthy railroads

What is the safest method of oil transport? Would it be trucks, trains or pipelines? Trucks and trains by their very nature create unwelcome emissions. Not so with a pipeline, but we continue to see the pipeline, which would be but one more in the maze of pipelines already crossing our country, being politically blocked or stalled.

The two biggest railroads are the publicly traded Union Pacific and the Berkshire Hathaway-owned Burlington Northern. The five largest stockholders in the Union Pacific are investment companies: Vanguard, Black Rock.,T. Rowe Price, Ameriprise and Credit Suisse.

Given the above and the fact that railroad's transportation of petroleum products was up by 38 percent during the first half of 2012, who is benefiting from the blockade of the pipeline? To answer that inquiry, as is always the case, you simply follow the money, or may be the environmentalists are enjoying the fruits of their labors.

Regardless of what Washington does, deny or approve the pipeline, the oil will still be extracted by the Canadians. The question is, will it flow south through a pipeline for processing in the United States, or will it flow west through a pipeline for shipment overseas?

DON MORAN

Savoy

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