Buffett Expects Coal to Decline

Buffett Expects Coal to Decline

Business magnate Warrant Buffett says he expects coal to decline as a percentage of railroad revenues.
"If you're tied to coal, then you've got problems," Buffet said Saturday at Berkshire Hathaway's annual shareholders meeting," CNBC reported.
Berkshire owns the Burlington Northern railroad company, one of the largest freight railroad networks in North America.
Together with Berkshire Hathaway Energy, the two units accounted for a third of Berkshire's after-tax operating earnings in 2016, according to the latest shareholder letter.
Buffett also said he is looking for investment opportunities in renewable energy.
"We have got a big appetite for wind or solar," Buffett said
"If someone walks in with a solar project tomorrow and it takes a billion dollars or three billion dollars, we're ready to do it," he said. "The more there is the better."
Buffett said Berkshire is in a good position to compete with electric utilities companies since the conglomerate can take better advantage of tax incentives for alternative energy projects.
Berkshire Hathaway Energy already sells wind-generated electricity in Iowa. In a March presentation, the firm said capital expenditure forecasts for the next two years have increased $4.6 billion from the prior year, primarily due to wind and solar energy projects.


Short URL : https://goo.gl/10lGGr
  1. https://goo.gl/P93tfJ
  • https://goo.gl/E1CujH
  • https://goo.gl/tHvLoQ
  • https://goo.gl/84OWBi
  • https://goo.gl/Yy284V

You can also read ...

Norway Intends to Build First Offshore Floating Wind Farms
Norway’s Petroleum and Energy Minister Terje Soviknes will...
Venezuela Oil Production May Soon Sink to 1m bpd
Venezuela’s plummeting oil production is nearing the...
GAP envisages the construction of 22 dams and 19 power plants.
Turkey is taking advantage of its abundant supply of ...
OPEC+ to Discuss Q3 Output Surge
The planned increase of crude production by OPEC+ nations of 1...
Egypt Hikes Fuel Prices by 50 Percent
Egypt has raised gasoline prices by up to 50%, its oil...
US-Saudi  Oil Increase  Plan a Ploy Against OPEC
The US political pressure on Saudi Arabia to boost oil output...
Oil Ministry to Modify Contracts With Domestic Parts Producers
The Oil Ministry plans to modify the contracts it had earlier...

Add new comment

Read our comment policy before posting your viewpoints