Save time by listening to our audio articles as you multitaskIt hardly sounded like a resounding endorsement. Yet Berkshire’s stake has since climbed above 20%, making it Oxy’s biggest shareholder by far, and on August 19th it got authorisation from an energy regulator to purchase up to half of the firm’s shares. The buying spree has made Oxy the highest climber this year in the500, one of America’s stockmarket benchmarks. It has also fuelled speculation that it is the prelude to a takeover.
That’s one way of looking at it. Another is that Mr Buffett, who supported Ms Hollub’s bid for Anadarko by providing $10bn of high-yielding investment, has come to appreciate her idiosyncratic approach to America’s oil business. For what it’s worth, Schumpeter, who first met Ms Hollub six years ago, has long considered her a cut above the average American oil-industry boss.
No. This is a smokescreen & delaying tactic from BigOil. StopCarbon, that is all.
Occidental plans 70 plants to capture carbon from air by 2035 .
Long $BRKB