Buffett Bets On Fossil Fuels Amid Cheap Market Valuations ...Middle East

Warren Buffett and his investment conglomerate Berkshire Hathaway have been increasing stakes in oil and gas industry operators this year as cheap valuations and attractive returns make fossil fuels good investments amid the ongoing ESG considerations from many other investors. “I love ESG” because oil and gas stocks are cheap now partly due to this, Cole Smead, CEO at Smead Capital Management, has told Bloomberg. “I’m sure Buffett and Munger love ESG as well,” Smead, whose firm manages $5.4 billion worth of assets,…

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