Peak Oil is You

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Page added on September 30, 2009

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Warren Buffett weighs in on Bernanke, Obama, China and oil

Uber-investor Warren Buffett has always seemed more accessible than your typical CEO. That’s thanks in no small part to his widely read — and plainly written — annual letters to Berkshire Hathaway (BRK.A) shareholders. But he’s plenty interesting speaking off the cuff as well, as he demonstrates in a series of quick online videos posted today by Fortune.

In the videos, Buffett fields questions on interest rates, investing in China, the future of energy and the Obama administration’s efforts to revamp financial regulation. It’s tempting to say Buffett didn’t make news — except, well, practically everything the man says is newsworthy to his legions of followers.

The Oracle looks past oil. Is Buffett a peak oil believer? “We’re using something on the order of 85 million barrels a day and it’s going to be difficult, in my view, to get that up much,” he said. “We’ll use less eventually — it is a finite resource — so the real question is how well we anticipate that situation.” If we’re not ready, look for oil prices to spike. Buffett suggests embracing electric vehicles as a way to ween ourselves off fossil fuels.

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