Warren Buffett’s big bets on oil are betraying the climate ...Middle East

Quartz - Economy
Warren Buffett’s big bets on oil are betraying the climate
Warren Buffett made his billions by being a contrarian investor. “Be fearful when others are greedy, and greedy when others are fearful,” one Buffett dogma runs; “detach yourself from the crowd,” he said elsewhere. But his recent bets on oil companies are contrarian in a new way, doubling down on fossil fuels when the rest of the world is trying to divest from it.By the end of 2021, more than 1,400 institutions (pdf), with $39.2 trillion in assets under management, had committed to selling some or all of their stakes in fossil fuels. Buffet, though, is doing the opposite. His investment company, Berkshire Hathaway, became Chevron’s fourth-largest equity stakeholder in April, the value of its

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