Warren Buffett is apparently not an unadorned green but instead falls in the category of self-interested capitalist. Shocker, right? The billionaire is under scrutiny because one arm of his vast Berkshire Hathaway conglomerate – the Nevada utility NV Energy – is trying to keep a 3 percent ceiling on net-metered solar in the state. Meanwhile, other arms of Berkshire… Keep reading →
Soros Fund Management, a hedge fund firm, took new strides in the energy sector, purchasing stakes in Devon Energy and Transocean, a regulatory filing showed Tuesday. “The investments of investorGeorge Soros and his family, bought 385,497 shares of Devon Energy and 149,000 shares of Transocean in the fourth quarter, according to a filing with the… Keep reading →
New legislation has been proposed to increase US military energy efficiency and reduce fossil fuel reliance. This shift, however, is driven more by troop safety and operational security than a desire to be “green.” “The bill, called the Department of Defense Energy Security Act of 2014, was announced yesterday by Senator Mark Udall (D-CO) and… Keep reading →
By Bryan Borzykowski Last June, Warren Buffett’s Berkshire Hathaway surprised a number of investors by sinking more than $500 million into Suncor Energy (NYSE: SU), one of Canada’s largest oil-and-gas companies. To Americans, it may have seemed like just another one of the Oracle’s undervalued plays, but it got a lot of long-suffering Canadian energy… Keep reading →
Berkshire Hathaway energy unit MidAmerican Power Holdings has agreed to buy wind turbines with an estimated value of more than $1bln from Siemens. IFM Investors has agreed to invest $1.3 billion in equity funding for the proposed three-train Freeport LNG natural gas liquefaction and export plant in Texas, sourced from a consortium of project finance ledners. The funding in question… Keep reading →
MidAmerican Energy Holdings, a unit of Warren Buffett’s Berkshire Hathaway, has agreed to buy nearly 450 2.3-megawatt wind turbines – with an estimated collective value of over $1 billion – from Siemens. “MidAmerican is expanding in wind as costs fall.” [Bloomberg] China’s move to tackle air pollution could push major Australian coal mining operations from… Keep reading →
By sitting around and watching opportunities pass by Warren Buffet, the legendary investor who has been at the helm of Berkshire Hathaway and made a fortune for himself and his shareholders, was once asked how to make a million. His answer: Buy an airline for a billion and watch your investment shrink to a million.… Keep reading →
Warren Buffett’s Berkshire Hathaway bought 40.1MM shares of ExxonMobil for $3.45bln, and now holds about 0.9% of the company’s stock. UK’s BG has sold additional interests in its Queensland Curtis LNG project in Australia to China National Offshore Oil Corp. for $1.93 billion, and to supply the state-controlled Chinese firm with an additional 5 million tons per year of LNG… Keep reading →
Oil companies love to say that their ownership is the average American retiree, and utilities can often claim the same. Look at your retirement account or, should you be so lucky as to have one, your company’s pension plan. Odds are that it is heavily invested in the US energy sector. Shifts in the parameters… Keep reading →
US oil inventories grew by 4.4 million barrels last week to 395.1 mn bbls, their highest level in three decades, according to oil and gas industry group API. But Energy Information Administration data out later today might show that supplies actually declined. Confusing. [Bloomberg] UPDATE: EIA data shows US commercial crude stocks for the week… Keep reading →
