Billionaire investor, Warren Buffet is getting his hands on one of the biggest companies doing business in Montana. On Tuesday, his company Berkshire Hathaway agreed to buy Burlington Northern Sante Fe railroad in a $34 billion dollar deal.  

Buffet is calling his investment "an all-in wager on the economic future of the United States" and says he believes rail line profits will grow over the years. Berkshire Hathaway already owns 22% stake in Burlington Northern and will pay $100 a share for the rest of the company. So far, the deal has been approved by Burlington Northern and Berkshire Hathaway boards. But, it still needs approval from Burlington Northern shareholders and antitrust regulators, which is expected early next year.  

Buffet is buying Burlington Northern at a time when railroad profits are down in this recession. His company believes that when diesel prices rise, more people will want to ship by rail instead of by truck.

Burlington Northern is the biggest hauler of corn and coal for electricity, which powers one out of every 10 homes in the U.S. The rail line also hauls coal from the Powder River Basin in Wyoming and Montana. A Billings financial analyst says time will tell whether the decision is good or bad for Montana.  

"The most dominant company, I think by far in Montana, is the BN and it's been that way for years and years. It has a near monopoly on grain and coal. To come up with $26 billion dollars in 10 days is a pretty impressive piece of financial work," Todd Buchanan of Buchanan Capital LLC said.  

Burlington Northern spokesman Gus Melonas, says the company does not anticipate any job cuts or operational changes in Montana. BNSF currently employs approximately 2,000 Montanans and owns about 2,000 miles of track.