Posted 2/25/2024, 10:50:00 AM
Buffett Bets Big on Occidental as Oil Giant Pivots to Carbon Capture
- Warren Buffett has aggressively bought shares of Occidental Petroleum (OXY), making it Berkshire Hathaway's 6th largest holding
- Buffett believes oil production will remain steady or increase despite the renewable energy transition
- Occidental is making a big bet on direct air capture (DAC) technology to remove and store carbon dioxide
- DAC could give new life to oil and gas companies and be a multi-trillion dollar market
- Buffett seems fully on board with Occidental's DAC focus under its "extremely competent" CEO