Quote:
Originally Posted by dellinger63
Warren Buffett looked at it and walked away faster than T. Boone Pickens did from his wind mills.
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Buffett loves rail. Thinks it's the future of the country. Bought Burlington Northern to transport coal. "It's an all-in wager on the economic future of the United States," said Buffett in a statement. "I love these bets."
Read Buffetts current shareholder letter this past weekend (you can find it on the Berkshire Hathaway website):
"The highlight of 2010 was our acquisition of Burlington Northern Santa Fe, a purchase that's working out even better than I expected.
"Railroads have major cost and environmental advantages over trucking. … Last year BNSF moved each ton of freight it carried a record 500 miles on a single gallon of diesel fuel. That's three times more fuel-efficient than trucking is, which means our railroad owns an important advantage in operating costs. Concurrently, our country gains because of reduced greenhouse emissions and a much smaller need for imported oil. When traffic travels by rail, society benefits."