The Keystone pipeline would have competed with and undercut the price of oil developed from North Dakota’s Bakken oil fields, currently one of the fastest growing domestic sources of supply. It would have cut demand for Bakken oil by 100,000 barrels a day. To bring the Bakken oil to market, the main mode of transport to the refineries will have to be Burlington Northern/Santa Fe railroad. Berkshire Hathaway, the fund run by Warren Bufffet, just bought the that whole frikkin’ railroad.
Pretty nice that his buddy Presbo just quashed the competition. That oughta be worth a little campaign contribution.