This Top Warren Buffett Stock Is Capturing a Potentially Massive Opportunity
Chevron (NYSE: CVX) and its partners, Talos Energy (NYSE: TALO) and Carbonvert, are expanding the scope of their Bayou Bend carbon storage project. The companies acquired land to potentially sequester more carbon dioxide underground in the Gulf Coast region. It puts Chevon, one of the largest stocks in Warren Buffett's portfolio, in an even better position to capitalize on the potentially multitrillion-dollar carbon capture and sequestration (CCS) market.
Here's a closer look at this latest development and how it adds to Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) under-the-radar bet on this potentially massive upside catalyst.
In 2021, Talos and Carbonvent won the bidding for a 40,000-acre carbon storage lease offshore of Port Arthur and Beaumont, Texas. Chevron joined the joint venture in 2022, taking a 50% stake in the Bayou Bend project, with Talos and Carbonvent each holding a 25% stake.
Source Fool.com
