[tweetmeme source=blogbrut]According to this
America’s best-known investor has been blasting the president’s push to curb global warming — using the same lying points promoted by far-right Republicans.
Buffett, whose investments have the power to move entire markets, is doing far more than bad-mouthing climate legislation — he’s literally banking on its failure. In recent months, the Oracle of Omaha has invested billions in carbon-polluting industries, seeking to cash in as the world burns. His conglomerate, Berkshire Hathaway, has added 1.28 million shares of America’s biggest climate polluter, ExxonMobil, to its balance sheet. And in November, Berkshire placed a huge wager on the future of coal pollution, purchasing the Burlington Northern Santa Fe railroad for $26 billion — the largest acquisition of Buffett’s storied career. BNSF is the nation’s top hauler of coal, shipping some 300 million tons a year. That’s enough to light up 10 percent of the nation’s homes — many of which are powered by another Berkshire subsidiary, MidAmerican Energy. Although Berkshire is the largest U.S. firm not to disclose its carbon pollution — and second globally only to the Bank of China — its utilities have the worst emissions intensity in America, belching more than 65 million tons of CO2 into the atmosphere in 2008 alone.
It’s just business.