Berkshire Hathaway Chairman and CEO Warren Buffett and Vice Chairman Charlie Munger preside over the 2023 Berkshire Hathaway annual meeting. Warren Buffett discusses the oil sector. For access to live and exclusive video from CNBC subscribe to CNBC PRO: https://cnb.cx/2NGeIvi
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17 Comments
Knowledgeable person,
They both are struggling- doing their best though.
GOATS, both of them. Much respect.
I’m looking forward to seeing Charlie at next year’s meeting too. He’ll be 100🎂 before then. 😁
Lovely old men lol. Gotta love the 92 and 99 year old legends. Thank you for helping the average investor
If they ever come up with free energy. Which they will. Oil will be around forever we need it. It just will not be demanding as it is now. For Oil and gas. When I was very young kid. We had a family geologist tell me there’s enough oil to last for millions of years in the PermianBasin. I have lived in the PermianBasin all my life.
The strategic oil reserve was created for a national oil emergency not as a slush fund for political,purposes.Draining it for votes is a crime .
Unfortunate that they have no interest in fighting Climate Change. They are supporting companies with large holdings in oil, gas, diesel
Babbling on and on and on and really saying practically nothing.
Oil is abundant all over the world. There is no shortage. What is intriguing these days is how the major companies have stopped investing money in exploration and drilling new wells. They are keeping their production flat, buying back shares and paying out small dividends. This behaviour is keeping the supply tight over demand. The price per barrel is strong enough to allow these companies massive amounts of cash flow to buy back shares rather than spending millions on exploration and development. Despite the looming financial instability the demand for oil will stay strong but the development of new wells will lag behind this demand thus keeping the price between $70 to $100 per barrel. Bottomline; invest in a company with low debt, that is buying back shares and has years of reserves in the portfolio.
Painful, it's like listening to Biden…..sorry, just don't worship at the same place as you.
Too bad they didn't answer the guy's question.
Increasing interest rates are going to continue to increase bank failures because it puts their commercial paper and treasuries underwater. They need to freeze interest rates to prevent a deep recession in the economy. At the same time the White house needs to help industry to increase gas and oil output to reduce fuel prices. The war on oil only serves to increase energy prices which trickles out to the rest of the economy as inflation. Lowering interest rates, tightening the money supply, reducing government spending and increasing the cheap supply of fuel will result in reduced inflation and a booming economy. Presto, no inflation and no recession. Of course there are a lot of other agendas out there that will never let all of that happen, so hello recession and sticky inflation.
Are these guys immortal or what?
Thats the way Warren Buffet multiply his wealth. Buy the stock, spread the news and pump the stock.
Find out whats powering the UFO'S and oil will be the same price as salt water. That technology powering the UFO'S is the real future of energy. The federal government has this technology, but there not looking to solve the oil problems. Solving problems is not profitable. Just like theres no profit in peace or in health. There is no profit in solving mankinds issues. War, sickness, energy are all big industry's that provide tons of profits. Chaos, sickness and energy cause profits. Theres no profit in peace or wellness, or free energy!
Burns Slant Drilling Company
They will buy more oxy and exercise the warratns. Higher oil prices are inevitable given the current situation. It is like the 70s, but only worse. Does this administration want to see the tactical reserve go to zero? Time to buy back.