Quote of the Day: Warren Buffett On The Future of Rail
Image Credit: The White House
The Oracle of Omaha, Warren Buffett, on his $26 Billion investment in the Burlington Northern Santa Fe Railroad, from his annual report:
[We] are enthusiastic about BNSF's future because railroads have major cost and environmental advantages over trucking, their main competitor. 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.
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