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Was Buffett’s Decision to Grow Berkshire Hathaway’s OXY Position a ‘Good Move’?
Such significant investments as Warren Buffett makes have implications and ramifications well beyond my limited understanding of his and Berkshire Hathaway’s objectives, buUut… for sure: there’s reasons.
Let’s start with 12,572,000,000 of ‘em: since increasing his current stake to 28%? They’ve seen an almost immediate increase in the value of their $Occidental Petroleum (OXY.US)$ shares, to the tune of [edits to correct mathematical error] over $18M.
And, if you actually look into the company? It checks all his boxes, has recently paid down debt, has dramatically increased cash flow, and will likely increase dividends.
SoOo…
If you’re hoping to minimize your risk, yet still be almost certain to see reasonable long term gains? Then, consider buying OXY, too.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Tonyco : Bad bet. He screws up alot these days.
Even should Republicans scrap the entirety of IRA it still won't change the transition from oil. Mostly on account of it burning up the planet.
Besides that, Cali law already adopted by other states prohibiting ICE vehicles from being made anymore.
And even if Republican stacked court shoots it down, EU already passed a similar law.
Not a good long term hold
Dan’l OP Tonyco : I certainly wouldn’t so quickly dismiss the economic rationality of the decisions implemented by Warren Buffett and others at Berkshire Hathaway, most especially based upon the irrational malfeasance that Gavin Newsome and other so-called Progressive Democrats have enacted: “Let’s ban [oil and gas], and force EVs [despite rolling blackouts, and burning coal to make the electricity we still can’t deliver to meet current demand].”
Hydrocarbons are it, ‘til HALEU-powered SMRs become common, and even then? They’re still gonna be building coal plants in China, India, et al.
When millions starving elsewhere, burning dung indoors, are no longer enduring their sufferings from abject poverty? They, too, can afford the shortsighted policies of CA, the EU, etc.
Meanwhile, unlike these empty suits, $Occidental Petroleum (OXY.US)$ has been doing something meaningful about sustainability, injecting up to 20 million tons of CO2 into geologic reservoirs for each of over 50 years… might be a factor in Buffett’s decision.
Transitioning requires realistic alternatives that actually work, such as natural gas and nuclear power, and in the interim? America produces the cleanest oil and gas with the least harm.