In my opinion, is not the psycho-drama being played out in Senator Boxer’s committee, but the decision by Warren Buffett’s Berkshire Hathaway Inc. to buy the coal-hauling Burlington Northern Santa Fe railroad.
This is a $34 billion dollar bet that coal will remain the centerpiece of American energy policy in the future. Buffett clearly believes that coal use will remain strong -- and possibly grow.
So he is putting his money on a vision of America with no effective climate policy at all – or at least one that doesn’t slow coal growth.
Berkshire also owns MidAmerican Energy Holdings, which has taken perhaps the most relentlessly reactionary position of any power company in the nation.