Why Warren Buffett Changed His Mind About Buying Oil Stocks

I still maintain that we are at the dawn of the end of... [Energy and Capital Header] Practical Investment Analysis for the New Energy Economy Why Warren Buffett Changed His Mind About Buying Oil Stocks Jeff Siegel | Nov 17, 2023 On Monday, Exxon (NYSE: XOM) announced it was getting into the electric vehicle (EV) game. According to company reps, Exxon is launching a new lithium mining operation in Arkansas, where it will produce enough lithium to support the manufacturing of one million EVs. A lot of folks saw this news and used it as a reason to suggest that the internal combustion vehicle was about to become a thing of the past. If one of the world’s largest oil producers is mining lithium for electric cars, this must be the case. While it is true that the transition away from internal combustion is happening, don’t think for a second that Exxon’s latest lithium play will distract it from what it does best - produce and sell oil. Truth is, in terms of any revenue generated from this lithium project, it’ll barely register as an accounting error for the oil giant when you compare it to what it makes from its oil and gas assets. Don’t get me wrong. Here at Energy & Capital, I’m easily the biggest bull on vehicle electrification. Tesla Is Dead... Elon Musk Is Ruined Thanks to a new discovery — known as “Blue Gas” — electric car companies like Tesla are about to go down in flames. “Blue Gas” is 100% emission-free, can propel vehicles hundreds of miles, and allows cars to fully charge in just minutes. And the tiny company behind it is primed to absolutely shatter any gains ever paid out by Tesla. [Click here before this stock explodes in the coming months.]( Hell, I was the one who suggested buying Tesla (NASDAQ: TSLA) right after it went public. Those who took my advice made a boatload of cash. And I still maintain that we are at the dawn of the end of internal combustion. We already know that by 2030 more than half of all new vehicle sales in the U.S. will be electric, and by 2040, more than 60% of new vehicle sales, globally, will be electric. Make no mistake: the transition from internal combustion to vehicle electrification is going to make us all insanely wealthy. But that doesn’t mean you should eschew the oil machine altogether. In fact, we’re actually coming up on a new bull run on oil that, if you play your cards right, will result in some serious life-changing gains. Certainly the world’s wealthiest billionaires have been going big on oil over the past few months. Oppenheimer Would NEVER Have Seen This Coming After 70 years, J. Robert Oppenheimer’s legacy is being rewritten. It’s all due to the breakthroughs being made in next-gen nuclear technology, like small modular reactors (SMRs). These mini reactors are safer, smaller, and will start popping up all over the world in the next few years... But the real opportunity isn’t in the builders of these SMRs — it’s in their fuel source. [You need to see this one for yourself immediately.]( As I noted last week, Warren Buffett, who said just a few years ago that he will not be buying oil and gas stocks, did a complete about-face. Today, oil stocks make up 14% of Berkshire Hathaway’s total portfolio. Folks, that’s the highest it’s been in 23 years. You think Uncle Warren knows something the rest of us don’t? Or what about billionaire hedge fund manager, David Tepper, who recently invested $372 million into oil and gas stocks? Or hedge fund king Steve Cohen. He’s in several oil plays, ponying up more than $1 billion for that action. Other billionaires loading up on oil right now include… - Bill Gross — net worth: $2.6 billion - Paul Tudor Jones — net worth: $8.1 billion - Ray Dalio — net worth: $15.4 billion - George Soros — net worth: $6.7 billion - Carl Icahn — net worth: $6.4 billion - Jim Simons — net worth: $30.7 billion - Bruce Berkowitz — net worth: $4.3 billion They’re all taking massive positions. And you should be, too. Which is why I’m including [this latest investment note from our resident oil & gas expert Keith Kohl, who has an actual list of all the oil & gas stocks you should be buying right now.]( Yes, the future of personal transportation is electric. But right now, there’s too much money in oil to ignore because you think Tesla makes cool cars. It does. But after this next bull run on oil, you could walk away with enough money to buy a whole fleet of Teslas. And I’m talking about the high-end ones, too. I’m telling you now, don’t sleep in this next oil bull market. Because it’s going to be a millionaire-maker for those who play it right. But don’t take my word for it.  [Click here and see why all those billionaires are loading up on oil & gas stocks.Â]( They’re going to make a killing. You might as well do the same. To a new way of life and a new generation of wealth... [Jeff Siegel Signature] Jeff Siegel [[follow basic]Check us out on YouTube!]( [[follow basic]@JeffSiegel on Twitter]( Jeff is the founder and managing editor of Green Chip Stocks. For more on Jeff, go to his editor's [page](. [Fb]( [Li]( [Tw]( This email was sent to {EMAIL}. You can manage your subscription and get our privacy policy [here](. Energy and Capital, Copyright © 3 East Read Street, Baltimore, MD 21202. Please note: It is not our intention to send email to anyone who doesn't want it. If you're not sure why you're getting this e-letter, or no longer wish to receive it, get more info [here]( including our privacy policy and information on how to manage your subscription. 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