Warren Buffett Invests Big Time in Tar Sands

[xchrom]

http://www.alternet.org/environment/warren-buffett-buys-over-500-million-suncor-tar-sands-stock



Warren Buffett - the fourth richest man on the planet and major campaign contributor to President Barack Obama in 2008 and 2012 - may soon get a whole lot richer.

That's because he just bought over half a billion bucks worth of Suncor Energy stock: $524 million in the second quarter of 2013, to be precise, according to Securities and Exchange Commission filings. Suncor is a major producer and marketer of tar sands via its wholly owned subsidary Petro-Canada (formerly Sunoco) and this latest development follows a trend of Buffett enriching himself through dirty investments and deal-making.

So far in 2013, Suncor ( formerly Sun Oil Company) has produced 328,000 barrels per day of tar sands crude.

Though he receives far less negative press than the Koch Brothers, Buffett's no deep green ecologist. Not in the slightest.

[Champion Jack]

1. WTF

[HughBeaumont]

2. There are no good guys in the upper echelons of power.

Milton Greedman worshipers .. . . the entire corrupted lot of them. Whether you're the puppeteer or the politician, it's a comedy and the joke's on us. Half of 'Murica doesn't even realize it is and identify more with the Plutocrat Petes of the world than their fellow man.