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Warren Buffett's 2 Big Reasons for Betting $40 Billion on Fossil Fuels

TheMotleyFool 
0 0 27.07.23
Warren Buffett's 2 Big Reasons for Betting $40 Billion on Fossil Fuels: https://g.foolcdn.com/editorial/images/741162/oil-rig-construction-industrial-energy.jpg
 

Fossil fuels are out of style, according to conventional wisdom. Renewable sources of energy are where the future lies. And it's where a lot of investing dollars are flowing.

But Warren Buffett has never been afraid to go against the crowd. That's exactly what he's doing now. The Oracle of Omaha has led Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) to invest heavily in oil and gas companies.

Buffett has two big reasons for betting more than $40 billion on fossil fuel stocks.

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Source Fool.com

Berkshire Hathaway Inc. A Stock

€601,500
1.090%
There is an upward development for Berkshire Hathaway Inc. A compared to yesterday, with an increase of €6,500.0 (1.090%).
Currently there is a rather positive sentiment for Berkshire Hathaway Inc. A with 3 Buy predictions and 0 Sell predictions.
As a result the target price of 650000 € shows a slightly positive potential of 8.06% compared to the current price of 601500.0 € for Berkshire Hathaway Inc. A.
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