Has Berkshire Hathaway’s Warren Buffett lost his investing magic?
‘The Warren Buffett Shareholder’ author Lawrence Cunningham and Smead Capital Management CEO and CIO Bill Smead respond to Berkshire Hathaway’s shareholder meeting this year that featured only Warren Buffett and his possible successor Greg Abel.
A 2020 presidential election win by former Vice President Joe Biden represents the “biggest risk” to Warren Buffett’s latest deal, according to one industry expert.
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Buffett’s Berkshire Hathway on Sunday announced plans to purchase Dominion Energy’s natural gas transmission and storage network for $9.7 billion, including debt. A Biden presidency would likely lead to stricter regulations on the energy industry.
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“Given all the indications with regard to all the other messages we're seeing from him, it's going to be a soliloquy to the hard left side of the party, which means anti-natural gas,” Stephen Schork, founder and editor of the daily oil subscription newsletter The Schork Report, told FOX Business. “That means passing laws.”
BUFFETT'S BERKSHIRE TO BUY DOMINION ENERGY GAS ASSETS FOR $4 BILLION
Biden named Green New Deal proponent Rep. Alexandria Ocasio-Cortez, D-N.Y., to lead his climate task force along with former Secretary of State John Kerry, who signed the Paris climate accord for the U.S.
The Green New Deal calls for "global reductions in greenhouse gas emissions from human sources of 40 to 60 percent from 2010 levels by 2030” and “net-zero global emissions by 2050.”
President Trump’s policies, which included efforts to increase production on public lands and rolling back regulations, have helped the U.S. become the world’s largest oil producer. Trump abandoned the Obama-era Paris deal in June 2017.