Warren Buffett Just Invested $4.1 Billion Into Big Oil

February 16, 20213 years ago Johnna Crider 0 Comments

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In a new filing with the Securities and Exchange Commission (SEC), Warren Buffett’s company, Berkshire Hathaway, reported that the company recently bought a large share of Chevron. The total amount Berkshire Hathaway invested into Chevron was $4.1 billion.

UPDATE: Berkshire Hathaway have filed their 13G & 13F. They didn't buy $TSLA. The "secret" company is Chevron…

Link: https://t.co/ukAQeZFfpg

— Sawyer Merritt (@SawyerMerritt) February 16, 2021

$BRK mystery stock is $CVX (Chevron). Oil companies are alive and well in Buffett’s eyes.

— Gary Black (@garyblack00) February 16, 2021

Buffett has never invested in Tesla but has invested $1.57 billion in GM. He said he would not invest in Tesla in an interview with Yahoo! Finance. Speaking of Elon Musk, Buffett said, “I’ve only met him once or twice, but yeah, I’ve talked with him, but not for quite a while.” When asked if he would invest in Tesla’s stock, Buffett simply said, “No.”

In 2019, Buffett was even more vocal about his stance against Tesla and Elon Musk when Tesla announced it was going into the insurance business. During Berkshire Hathaway’s annual meeting, Buffett had a few things to say about Tesla crossing into his domain. “It’s not an easy business,” Buffett said in the annual meeting. “The success of the auto companies getting into the insurance business is probably as likely as the success of the insurance companies getting into the auto business.”

CNBC noted that about one-third of Buffett’s business is in the insurance space and includes GEICO. “I’d bet against any company in the auto business” getting into insurance, Buffett said. “I worry much more about Progressive.”

If Warren Buffett cared about advancing EVs and sustainability, he wouldn’t have invested such a large stake in Chevron. Warren Buffett is known for making money off of valuable stocks. Unfortunately, that seems to be his only focus — investing in companies that make him rich. He doesn’t see Tesla as such a company.

If we were to advance to sustainable transportation, many of the companies that Buffett has invested in would go out of business. We’ll see what happens.

Either way, when you put profits above the health of the people on this planet — and this is what anyone who supports the fossil fuel industry is doing — then you are cashing in on the destruction of this planet.

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