Berkshire Hathaway Inc. announced today that they would be purchasing Burlington Northern Santa Fe Corporation for $34 billion which is the largest ever purchase in the history of Warren Buffett's company.

"Our country's future prosperity depends on its having an efficient and well-maintained
rail system," said Warren E. Buffett, Berkshire Hathaway chairman and chief executive
officer. "Conversely, America must grow and prosper for railroads to do well.
Berkshire's $34 billion investment in BNSF is a huge bet on that company, CEO Matt
Rose and his team, and the railroad industry.

"Most important of all, however, it's an all-in wager on the economic future of the United
States," said Mr. Buffett. "I love these bets."

High speed rail has been discussed as a possible solution to clogged roads and environmental issues and while Warren Buffett has taken some financial hits during the economic downturn he still maintains his nickname as the Oracle.  There was a lot of disappointment among progressives and those in the transportation industry when the stimulus package didn't allocate as much money as they hoped for several high speed rail projects around the country.  With Mr. Buffett investing such a huge amount of his business into rail it could mean a brighter future, not only for the rail industry, but for the environment.