With his stake in Occidental, the American billionaire is using the decisive lever to benefit from the high oil price and at the same time from Biden’s “environmental protection law”.
Investor Warren Buffett was once once more in the right place at the right time and did the right thing economically.
What happens if, like today, four fifths of the world’s energy is of fossil origin and if the providers are burdened or even hindered in exploration, processing and marketing? Quite simply – they reduce the renewal investments, at some point the supply becomes scarce and finally the price also increases. This is especially true when the markets are additionally distorted by external forces such as the sanctions imposed because of the Ukraine war or the oligopolistic OPEC.
