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Monday, March 2, 2015

Warren Buffet says Obama is 'thumbing nose' at Canada in delaying Keystone XL

WASHINGTON - The Keystone XL pipeline got an emphatic endorsement Monday from a powerful backer of President Barack Obama who questioned the handling of the file.

To billionaire investor Warren Buffett, the delay is a thumbing of the nose at Canada.

“I would have passed Keystone,” Buffett said in an interview with CNBC.4

“I think that we have an enormous interest in working with Canada, as they have in working with us. That oil is going to get sold. If we make it more difficult for them, who knows how they'll feel about making things more difficult for us someday.”

Because Buffett owns interests in the rail industry, in addition to oilsands holdings, there had been some speculation that he might have stood to benefit from a Keystone rejection.

But he has expressed support for it in the past, and did so with particular force Monday...

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