Warren Buffet, the Oracle of Omaha, is for the Keystone Pipeline, against Minimum Wage hikes and says climate alarmists have profitably hiked hurricane premiums, although there is no more risk than in past history (watch CNBC’s Joe Kernen on Squawk Box try to shut him down in the video below).
Buffett said the supposed increase in extreme weather “hasn’t been true so far, Joe. We always think it’s cold. We always think it’s cold in Omaha. But, it was cold in Omaha 50 years ago.”
Specifically, Buffett rejected claims that hurricanes have increased due to climate change, citing his experience in hurricane insurance. He said “we’ve been remarkably free of hurricanes in the United States in the last five years.” He added “If you are writing hurricane insurance, it has been all profit.”
“I think that the public has the impression that because there has been so much talk about climate, that events of the last 10 years, from an insured standpoint on climate, have been unusual. The answer is, they haven’t.”
Warren Buffet’s net worth is estimated at $58.2 BILLION by this Forbes March 2014 report. He is considered Forbes’ 2014, fourth richest person on the planet, with Bill Gates’ $76 BILLION first, Mexico’s Carlos Slim, second and Spain’s Amacio Ortega third.
CNBC INTERVIEWER see video here: What about the Keystone Pipeline? That question was raised several times by shareholders — ‘wait a second, do you really want the Keystone Pipeline because it is a direct competitor to what would happen to Burlington North?’
WARREN BUFFET: Well, I think — it would be moving crude down from Canada. I think, probably, the Keystone Pipeline is a good idea for the country.
Warren Buffet is the chairman, CEO and largest shareholder of Berkshire Hathaway (a holding company managing and overseeing subsidiaries), He is the owner of Burlington Northern Railways, and major shareholder of IBM stock.