Warren Buffett on oil: We like Occidental's position in the Permian Basin
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- Опубліковано 5 тра 2023
- 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: cnb.cx/2NGeIvi
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These men are truly blessed to have a working mind at this age.
Lovely old men lol. Gotta love the 92 and 99 year old legends. Thank you for helping the average investor
Natural gas showing momentum..should we add?
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. 😁
😢
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.
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I can't believe Charlie is 99 years old
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.
I drink your milkshake. I drink it up!
Sorry I work as a geologist in the industry...sadly we are scraping the bottom of the barrel. There's almost no conventional 'big' proespects left and the unconventional locations left are the tier two properties. Peak oil is here IMHO.
@@flyboy98 oil reserves around the world are plentiful
@@flyboy98 amazing how there are totally opposite projections plenty bottom barrel ?
@@angelobalbi $CNQ ?
Bets wishes always for you!! #probability #person #people #countries #place #city #life #lives
Mr. Buffet what do you know about trading water rights and futures?
Subjects very important related in this video, of course!!
California have a lots of oil the Monterey shale I think they said it’s somewhere like 687 billion bbls they just have to figure out how to get it out and it’s deeper then the regular 6, 8 10 thousand ft well .
It's a good video
Assuntos muito importantes abordados neste vídeo acima, com certeza!!
Disappointingly Buffet mostly talks a lot of fluff rather than getting straight to the point.
That's your typical business man; won't tell you his advantage
I listened to the whole "show" and Charlie says more with less words than Warren
that's how they control this great meetings for decades, not just this one
Natural gas showing momentum..should we add?
*Best
Are these guys immortal or what?
What
Save time @ 1.25 speed
shale oil decline faster and probably does not have a long tail
big fan of buffett, but cant understand him here.
missing Charlie rn
The American Dream 🇺🇸
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.
Figuring out how to more efficiently extract electricity from the electrical energy inherent in the atomic structure is a likely possibility, if the world can survive to such a time. However, good luck making plastic, car tires, asphalt, and heavy lubricants (e.g., grease) out of electricity.
Free energy LoL
Rip Charlie
I'll be waiting for $40 to begin building my long position.
There are always folks like yourself coming in late to the party thinking of that big "second chance" window. OXY shares won't hit $40 now that large amount of debt has been paid, shares bought back and oil remains relatively stable around $65-75. OXY makes $$ at or above $40/bbl. You should've been there to buy shares or warrants in Oct 2020 if you wanted real value and upside potential! The old adage "Never let a crisis go to waste" is largely used in politics but works in financials just the same for those that ready themselves for the moment.
What is happening
I have pledged to get rid of the debt and ignorance haha❤❤🎉🎉
they are turning into these old dudes from the Eddie Murphy movie that bet that $1
Turning into? They were those dudes, before that movie even existed..
drill baby drill
Too bad they didn't answer the guy's question.
Burns Slant Drilling Company
Good decisionto take oil shares taken by fathernow rich pl
Fascinating comments; Thank God the Excelsialytes take a brief moment periodically to enlighten the Uninitiated.
(Listen there's no um numerical thought process to My word ology I don't allude numbers to words stop counting)
Stuff all downside, maybe plenty of upside, legends usally spot on in there big bets
(well am I um right?)
Environmental catastrophe.
They both are struggling- doing their best though.
@Chad Abercrombie good prose
6:25 "It's just different."
One of the rare times I think Buffett has no clue what hes talking about
😘🥀
(love I'm using um someone else phone I'm not a female.)
I wonder whether they care about the climate crisis. They didn't mention it at all. The elephant in the room.
Who cares , let the polar bears drown. They are people killers.
Buffett addresses this, and the answer is that it is irrelevant to their investing decisions, which are completely rational. If there is money to be made investing in oil production, they will invest. If there is a climate "crisis", it is due to consumption of oil. So far no one has figured out how to live without consuming it. As long as it is consumed, there will be a market for it, and people will get paid to produce it. Not producing it just drives the price up and encourages more production. Trying to stop people from producing it by not investing in production is just giving money to people who will invest in it - like Warren Buffett, and a zillion other people who like to make money. Making oil more expensive for ourselves just gives China and other developing economies a huge competetive financial advantage, which is effectively a subsidy for them. We have to radically reduce energy consumption overall and also use a bunch more nuclear energy to solve this CO2 problem. Having higher energy density batteries will definitely help on the transport side. Solid state. Toyota by 2028.
bidens brother
Babbling on and on and on and really saying practically nothing.
Thank you. I was wondering if I was the only one who noticed.
Man that's what old people do 😂
Painful, it's like listening to Biden.....sorry, just don't worship at the same place as you.
In all cultures it's quite common to listen to the wise elders. And it makes sense. "young is better" is a sign of modern decadence.
TWO SMARTEST MEN IN THE 🌎 WORLD...👍👍