[joeltrout]

$this->bbcode_second_pass_quote('centralstump', 'H')is increase in Insurance holdings is the one that doesn't gel. Someone will have to explain that one to me

[Tanada]

$this->bbcode_second_pass_quote('joeltrout', '')$this->bbcode_second_pass_quote('centralstump', 'H')is increase in Insurance holdings is the one that doesn't gel. Someone will have to explain that one to me.

[big_rc]

Maybe somebody might get their head out of their posterior if Buffett actually talks about this at the annual shareholders meeting. I don't count on it though....

Buffett and Munger hold court

$this->bbcode_second_pass_quote('', 'B')uffett and Munger also commented on the topic of peak oil. This is the argument over whether the world is soon going to reach a peak in oil production before production flattens and eventually falls. They both seemed to agree that we were indeed close approaching a time of peak oil production, though Munger was the more vocal of the two. He noted that all energy resources on the globe--oil, natural gas, coal, uranium--are finite resources and will eventually run out. Therefore, the sun and the wind are essentially the only truly renewable alternative energy resources, and they will eventually have to be tapped in a large way.

Putting Munger on the spot concerning peak oil, Buffett asked him to give an "over/under" on what he thought oil production would be in 25 years. In typical Munger fashion, he gave a terse response that perfectly explained his opinion: "down."

[pup55]

The very idea that they referred to it by name, and take it seriously, is extremely important because these two characters are among the leading and most influential figures in the business and financial community.

Also, their attitudes permeate down into the ranks of some of the most prestigious names in business because of their ownership activities.

Watch for another upsurge in PO.com visitorship as this news spreads a little bit.

[PeakingAroundtheCorner]

$this->bbcode_second_pass_quote('pup55', 'T')he very idea that they referred to it by name, and take it seriously, is extremely important because these two characters are among the leading and most influential figures in the business and financial community.

Also, their attitudes permeate down into the ranks of some of the most prestigious names in business because of their ownership activities.

Watch for another upsurge in PO.com visitorship as this news spreads a little bit.

[joeltrout]

Not to be a downer but I don't think people listen to Buffet for his views on oil. Just like he commented on Yahoo & Microsoft. He said is doesn't understand technology and cannot comment on specifics. All he said was insight into the negotiations tactics between Yahoo and Microsoft.

joeltrout

[threadbear]

You NEVER listen to what these people say, you watch what they do. Buffet started buying big chunks of railways, and private jet companies that cater to the upper class, a few years back. Think he's a recent convert? No way. He's known for a LONG time that energy is going to become very expensive, that products within the US will be shipped by rail, not truck, and that only the upper middle and upper class will be able to afford air fare.

[BigTex]

Based upon Buffet's comments in the recent CNBC interview, I think he agrees with the idea that global oil production is at or near peak.

However, I don't think he agrees with the doomer scenario, though I'm not sure what the basis is for his optimism.

He didn't seem to think that the other side of the production curve would have a notable impact on long term economic growth.

I think we will see more and more people with this position--i.e., they will agree with the peak oil premise, but disagree regarding the effect of the peak.

Once the idea of the peak works its way through the collective consciousness, then people will begin to realize that maybe it is going to be a bigger problem than they thought at first.

But all of this is going to happen SLOWLY.

Probably about the way the flat earth idea gave way to the round earth idea.

[big_rc]

$this->bbcode_second_pass_quote('BigTex', 'B')ased upon Buffet's comments in the recent CNBC interview, I think he agrees with the idea that global oil production is at or near peak.

However, I don't think he agrees with the doomer scenario, though I'm not sure what the basis is for his optimism.

[Armageddon]

However, I don't think he agrees with the doomer scenario, though I'm not sure what the basis is for his optimism


==================================


It's hard to be a doomer when you are worth 50 billion dollars ( or whatever his money is invested in, i am sure mot much is in the dollar )

[BigTex]

It's worth saying, of course, that many fortunes will be made on the other side of the production curve, even if the overall impact is bad.

People like Buffet will make money then just like they make it now.

As long as there is ANY wealth to redistribute, people like Buffet will accumulate it.

Every time I see the house he lives in I think to myself "that dude understands wealth."

[seahorse2]

The richest man in the world will never be affected by PO. So, he's not a doomer, bc "doomer" is in the eye of the beholder, and if you "beholden" $65 billion dollars, well, what do you see but green.

[americandream]

$this->bbcode_second_pass_quote('seahorse2', 'T')he richest man in the world will never be affected by PO. So, he's not a doomer, bc "doomer" is in the eye of the beholder, and if you "beholden" $65 billion dollars, well, what do you see but green.

[americandream]

$this->bbcode_second_pass_quote('seahorse2', 'T')he richest man in the world will never be affected by PO. So, he's not a doomer, bc "doomer" is in the eye of the beholder, and if you "beholden" $65 billion dollars, well, what do you see but green.

[cube]

$this->bbcode_second_pass_quote('BigTex', 'B')ased upon Buffet's comments in the recent CNBC interview, I think he agrees with the idea that global oil production is at or near peak.

However, I don't think he agrees with the doomer scenario, though I'm not sure what the basis is for his optimism.

[Pfish]

$this->bbcode_second_pass_quote('cube', '')$this->bbcode_second_pass_quote('BigTex', 'B')ased upon Buffet's comments in the recent CNBC interview, I think he agrees with the idea that global oil production is at or near peak.

However, I don't think he agrees with the doomer scenario, though I'm not sure what the basis is for his optimism.

[drgoodword]

$this->bbcode_second_pass_quote('seahorse2', 'T')he richest man in the world will never be affected by PO.

[idiom]

He can't be a doomer. His credibility would be ruined. And he wouldn't be an American anymore either.

Bugger me, I'm bitter.

Anyways he seems to be betting on inferior goods and pre-oil goods.

[ReverseEngineer]

For all those of you who think the "wealthy" can survive this storm any better than the Common Man can, one of the World's "Richest" men just declared he was "Tapped Out"
$this->bbcode_second_pass_quote('Warren Buffett', 'I') think the Treasury will pay back the $700 billion and make a considerable amount of money," Buffett said, adding that if he had $700 billion on the government's terms to buy distressed assets, he would. "Unfortunately, I'm tapped out."

[Gorm]

No, the game never ends. It change forms, but does not never ever end untill we are extinct.

Life goes on and one has to adapt or die.