How do Warren Buffett and Sen. Ben Nelson benefit from the White House killing the Keystone pipeline?

Glenn spent a good portion of his show Tuesday night on GBTV to address Warren Buffett’s connections to TransCanada’s Keystone XL oil pipeline. Does the Oracle from Omaha have an interest in seeing the project killed? Glenn’s research team compiled quite a bit of evidence that could certainly lead one to reach that conclusion.

Back in January, the State Department advised the President to reject the proposal to extend the Keystone XL pipeline because it was not in the “national interest” of the country at this time. But why would Obama choose to not support this project when he has backed so many green energy projects, even ones that have failed like Solyndra?

According to Forbes, the pipeline would have been a huge job creator:

According to TransCanada, the company planning to build the pipeline, Keystone XL would alleviate transportation bottlenecks and improve capacity in a market where oil imports total 10 to 11 million daily barrels. The company claims it would put 13,000 people to work building the pipeline and 118,000 spin-off jobs “through increased business for local goods and service providers.”

Building the Keystone extension would provide additional transportation capacity at the crucially important city of Cushing, Oklahoma. The pricing point for NYMEX spot and future WTI contracts, which determine the price of crude oil, Cushing has faced severe bottlenecks as its capacity to transport crude oil to the refinery-rich Gulf Coast has been limited.

As Glenn pointed out, the oil that would have come in the pipeline would still be coming to the United States regardless, only now it would be through trains. And who owns the trains? Warren Buffett.

“The question is not about the environment or government studies,” Glenn said.

According to research done by GBTV and The Blaze, “Warren Buffett’s Burlington Northern Santa Fe LLC railroad — a unit of Buffett’s Omaha, Nebraska based Berkshire Hathaway — would be among those poised to reap sizable gains by the administration’s decision to reject TransCanada’s oil pipeline permit. Berkshire Hathaway purchased a 22% (or, $34 billion share) of the 32,000 mile line in 2009, shortly after Obama was elected.”

“Whatever people bring to us, we’re ready to haul,” said Burlington Northern spokesperson Krista York-Wooley.

Glenn said that Warren Buffet has vehemently denied ever speaking to The President about the Keystone Pipeline project despite the fact that he owned a company that would benefit from it’s cancellation.

“This pipeline should have passed. Because it’s safe, it’s a job creator, helps America get cheap oil and gets you lower gas prices,” Glenn said.

“He’s got to be the luckiest guy ever because he benefits from this.”

How did Buffett get so lucky? It had something to do with Nebraska Senator Ben Nelson.

WATCH Glenn explain below:

Buffett and Nelson go way back. In 2010 while the country was undergoing an overhaul of it’s financial regulations, Nelson worked hard to push legislation that would benefit Warren Buffett and Berkshire Hathaway. As of 2010, Nelson owned up to $6 million in stock in Berkshire Hathaway.

What are some of the other connections?

The Blaze and GBTV reported:

GBTV uncovered a startling connection between Berkshire Hathaway’s home-state and that state’s Senator Ben Nelson, who voted against the Keystone XL and lobbied that it be re-routed to avoid Nebraska. Ironically, the Senator’s attempts to thwart the pipeline were done while he himself maintained his state would heartily welcome the jobs created from the Keystone project. While Nelson’s position then seems counterintuitive, add to it the fact that he is heavily invested in Buffett’s Berkshire Hathaway.

GBTV revealed that from 2007 to 2012 Nelson contributed $27,000 to the company itself and according to a recent financial disclosure statement from 2008, he owned between $1.5 and $6 million of the company’s stock – his largest investment in any one company to date.

The pendulum seems to swing both ways, however. Buffett’s Burlington Northern Santa Fe PAC in turn contributed $5,000 to Senator Nelson’s Nebraska Leadership PAC and Berkshire Hathaway employees have reportedly long supported the senator, contributing at least $75,550 to the Nebraska Democrat over the course of his political career according to the Center for Responsive Politics.

Not coincidentally, Senator Nelson penned an op-ed column on March 5, 2012 entitled “Behind Those High Gas Prices.” As you can imagine, the senator was quick to tell Nebraskans that the spike “has nothing to do with the Keystone Pipeline” and also “isn’t a result of domestic oil production.”

Tying it all back to the Pipeline, Glenn concluded that it’s clear that both Nelson and Buffett have quite a bit to gain financially if Buffett’s trains were used to transport the oil instead of the pipeline.

“The political favors, the green house gas emissions, oil transported on choo-choo trains riding off into the smog-ridden sunset,” Glenn said.

And who loses? You.

“You’re not on the gravy train,” Glenn told the audience. “You’re in your car and most likely standing at the gas station pumping in gas that will be way more expensive.”

*Note - Warren Buffett announced he had non life threatening stage one prostate cancer after Glenn went on the air for this segment which is why the breaking news was not addressed during the show.

In light of the national conversation surrounding the rights of free speech, religion and self-defense, Mercury One is thrilled to announce a brand new initiative launching this Father's Day weekend: a three-day museum exhibition in Dallas, Texas focused on the rights and responsibilities of American citizens.

This event seeks to answer three fundamental questions:

  1. As Americans, what responsibility do we shoulder when it comes to defending our rights?
  2. Do we as a nation still agree on the core principles and values laid out by our founding fathers?
  3. How can we move forward amidst uncertainty surrounding the intent of our founding ideals?

Attendees will be able to view historical artifacts and documents that reveal what has made America unique and the most innovative nation on earth. Here's a hint: it all goes back to the core principles and values this nation was founded on as laid out in the Declaration of Independence and the Bill of Rights.

Exhibits will show what the world was like before mankind had rights and how Americans realized there was a better way to govern. Throughout the weekend, Glenn Beck, David Barton, Stu Burguiere, Doc Thompson, Jeffy Fisher and Brad Staggs will lead private tours through the museum, each providing their own unique perspectives on our rights and responsibilities.

Schedule a private tour or purchase general admission ticket below:

Dates:
June 15-17

Location:

Mercury Studios

6301 Riverside Drive, Irving, TX 75039

Learn more about the event here.

About Mercury One: Mercury One is a 501(c)(3) charity founded in 2011 by Glenn Beck. Mercury One was built to inspire the world in the same way the United States space program shaped America's national destiny and the world. The organization seeks to restore the human spirit by helping individuals and communities help themselves through honor, faith, courage, hope and love. In the words of Glenn Beck:

We don't stand between government aid and people in need. We stand with people in need so they no longer need the government

Some of Mercury One's core initiatives include assisting our nation's veterans, providing aid to those in crisis and restoring the lives of Christians and other persecuted religious minorities. When evil prevails, the best way to overcome it is for regular people to do good. Mercury One is committed to helping sustain the good actions of regular people who want to make a difference through humanitarian aid and education initiatives. Mercury One will stand, speak and act when no one else will.

Support Mercury One's mission to restore the human spirit by making an online donation or calling 972-499-4747. Together, we can make a difference.

What happened?

A New York judge ruled Tuesday that a 30-year-old still living in his parents' home must move out, CNN reported.

Failure to launch …

Michael Rotondo, who had been living in a room in his parents' house for eight years, claims that he is owed a six-month notice even though they gave him five notices about moving out and offered to help him find a place and to help pay for repairs on his car.

RELATED: It's sad 'free-range parenting' has to be legislated, it used to be common sense

“I think the notice is sufficient," New York State Supreme Court Judge Donald Greenwood said.

What did the son say?

Rotondo “has never been expected to contribute to household expenses, or assisted with chores and the maintenance of the premises, and claims that this is simply a component of his living agreement," he claimed in court filings.

He told reporters that he plans to appeal the “ridiculous" ruling.

Reform Conservatism and Reaganomics: A middle road?

SAUL LOEB/AFP/Getty Images

Senator Marco Rubio broke Republican ranks recently when he criticized the Tax Cuts and Jobs Act by stating that “there's no evidence whatsoever that the money's been massively poured back into the American worker." Rubio is wrong on this point, as millions of workers have received major raises, while the corporate tax cuts have led to a spike in capital expenditure (investment on new projects) of 39 percent. However, the Florida senator is revisiting an idea that was front and center in the conservative movement before Donald Trump rode down an escalator in June of 2015: reform conservatism.

RELATED: The problem with asking what has conservatism conserved

The "reformicons," like Rubio, supported moving away from conservative or supply-side orthodoxy and toward policies such as the expansion of the child and earned income tax credits. On the other hand, longstanding conservative economic theory indicates that corporate tax cuts, by lowering disincentives on investment, will lead to long-run economic growth that will end up being much more beneficial to the middle class than tax credits.

But asking people to choose between free market economic orthodoxy and policies guided towards addressing inequality and the concerns of the middle class is a false dichotomy.

Instead of advocating policies that many conservatives might dismiss as redistributionist, reformicons should look at the ways government action hinders economic opportunity and exacerbates income inequality. Changing policies that worsen inequality satisfies limited government conservatives' desire for free markets and reformicons' quest for a more egalitarian America. Furthermore, pushing for market policies that reduce the unequal distribution of wealth would help attract left-leaning people and millennials to small government principles.

Criminal justice reform is an area that reformicons and free marketers should come together around. The drug war has been a disaster, and the burden of this misguided government approach have fallen on impoverished minority communities disproportionately, in the form of mass incarceration and lower social mobility. Not only has the drug war been terrible for these communities, it's proved costly to the taxpayer––well over a trillion dollars has gone into the drug war since its inception, and $80 billion dollars a year goes into mass incarceration.

Prioritizing retraining and rehabilitation instead of overcriminalization would help address inequality, fitting reformicons' goals, and promote a better-trained workforce and lower government spending, appealing to basic conservative preferences.

Government regulations tend to disproportionately hurt small businesses and new or would-be entrepreneurs. In no area is this more egregious than occupational licensing––the practice of requiring a government-issued license to perform a job. The percentage of jobs that require licenses has risen from five percent to 30 percent since 1950. Ostensibly justified by public health concerns, occupational licensing laws have, broadly, been shown to neither promote public health nor improve the quality of service. Instead, they serve to provide a 15 percent wage boost to licensed barbers and florists, while, thanks to the hundreds of hours and expensive fees required to attain the licenses, suppressing low-income entrepreneurship, and costing the economy $200 billion dollars annually.

Those economic losses tend to primarily hurt low-income people who both can't start businesses and have to pay more for essential services. Rolling back occupational licenses will satisfy the business wing's desire for deregulation and a more free market and the reformicons' support for addressing income inequality and increasing opportunity.

The favoritism at play in the complex tax code perpetuates inequality.

Tax expenditures form another opportunity for common ground between the Rubio types and the mainstream. Tax deductions and exclusions, both on the individual and corporate sides of the tax code, remain in place after the Tax Cuts and Jobs Act. Itemized deductions on the individual side disproportionately benefit the wealthy, while corporate tax expenditures help well-connected corporations and sectors, such as the fossil fuel industry.

The favoritism at play in the complex tax code perpetuates inequality. Additionally, a more complicated tax code is less conducive to economic growth than one with lower tax rates and fewer exemptions. Therefore, a simpler tax code with fewer deductions and exclusions would not only create a more level playing field, as the reformicons desire, but also additional economic growth.

A forward-thinking economic program for the Republican Party should marry the best ideas put forward by both supply-siders and reform conservatives. It's possible to take the issues of income inequality and lack of social mobility seriously, while also keeping mainstay conservative economic ideas about the importance of less cumbersome regulations and lower taxes.

Alex Muresianu is a Young Voices Advocate studying economics at Tufts University. He is a contributor for Lone Conservative, and his writing has appeared in Townhall and The Daily Caller. He can be found on Twitter @ahardtospell.

Is this what inclusivity and tolerance look like? Fox News host Tomi Lahren was at a weekend brunch with her mom in Minnesota when other patrons started yelling obscenities and harassing her. After a confrontation, someone threw a drink at her, the moment captured on video for social media.

RELATED: Glenn Addresses Tomi Lahren's Pro-Choice Stance on 'The View'

On today's show, Pat and Jeffy talked about this uncomfortable moment and why it shows that supposedly “tolerant" liberals have to resort to physical violence in response to ideas they don't like.