Friday, November 13, 2009

Buffett & Gates

Here's the transcript from the town hall meeting Warren Buffett and Bill Gates held at Columbia University yesterday. An excerpt:

Response to a question on Burlington Northern
...railroads are tied to the future prosperity of this country. You can't move a railroad to China or India or anyplace else. We start out with the premise, and I can't think of a more sound premise, that there will be more people in this country, 10, 20, 30 years from now. They will be moving more and more goods back and forth to each other. And you have the most environmentally friendly and the most cost-efficient way of doing that on the railroads. The Burlington Northern last year moved -- on average it moved a ton of freight, 470 miles on one gallon of diesel. That is far, far more efficient than what takes place over the highways. You have the situation where overall they use 1/3 less fuel, they put far fewer pollutants into the atmosphere than trucks will. So the rails are in tune with the future. - Warren Buffett

The meeting aired last night on CNBC.

Adam

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