Crony Capitalism: 7 Stocks that Profit From Obama Keystone Backstab

Warren Buffett speaking to a group of students...
Warren Buffet via Wikipedia

President Barack Obama ‘s rejection last Wednesday of a key permit for this highly strategic pipeline beneficial to U.S.’s energy independence and job creation goals fueled nationwide outrage, but did very little to boost shares of energy-related companies that could have benefited from Keystone stumbling blocks.

“Perhaps this is because the rejection was so foolish by the Administration pandering to environmentalists in an election year that investors are assuming it gets approved eventually when rationality prevails in Washington,” says a money manager who prefers to be kept anonymous amid company fundraising efforts. 

The Street

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