If it’s good enough for Warren2 May 2021 01:07
Buffett says he has no issue owning Chevron, other fossil fuel companies
Responding to a question about growing criticism of fossil fuel companies, Warren Buffett said he had no issue owning Chevron and expected the company to be a benefit to society in the future even as the world moves toward more renewable energy.
“People who are on the extreme of both sides are a little nuts. I would hate to have all hydrocarbons banned in three years. It wouldn’t work. And on the other hand, what’s happening will be adapted to over time,” he said.
Buffett pointed out that, while he and Munger have sworn off tobacco stocks, they have owned retailers who sell cigarettes.
“There’s something about every business that, if you knew it, you wouldn’t like ... if you expect perfection in your spouse or in your friends or in companies, you’re not going to find it,” he said.