Warren Buffett, noted for his long-term investment philosophy, holds a substantial stake in Occidental Petroleum, with over 28% ownership. Berkshire Hathaway’s investment, valued at about $12.5 billion, underscores confidence in the oil and gas sector's future, driven by Occidental's resources and leadership in carbon-capture technology. Buffett emphasizes the alignment of these strengths with national interests, despite challenges in proving the economic viability of carbon-capture initiatives. This strategic position is crucial as Berkshire is set to earn significant dividends from Occidental in the years ahead, contributing to its diverse portfolio.
Buffett noted the appeal of Occidental's vast holdings in oil and gas within the U.S. and its leadership in carbon-capture, despite uncertain feasibility.
Berkshire Hathaway owns over 28% of Occidental, valued at around $12.5 billion, making it a significant investment in their portfolio.
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