RE:Buffett lifts fossil fuel bets:IMHO here's the reason why he bought more (from the Yahoo link):
"Energy trades at the lowest price-to-earnings valuation of any sector in the S&P 500 Index,... it also generates the most cash flow per share."
and,
"The returns on capital in coal, oil and gas are off the charts compared with other sectors. And with ESG, you can buy them cheaper than you otherwise would."
My favourite line from this article is: “I love ESG” because it helps keep oil and gas stocks cheap, Smead said. “I’m sure Buffett and Munger love ESG as well.”
I made some good money on my SU call options last year, and now on CJ this year, so keep that ESG nonsense coming :-)