Why Buffett's Ready to Double Solar and Wind Bet

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June 10 (Bloomberg) -- Warren Buffett briefly lost track of how many billions of dollars his Berkshire Hathaway Inc. is spending to build wind and solar power in the U.S. That didn’t stop him from vowing to double the outlay. Alix Steel has more on Bloomberg Television's "Bottom Line." (Source: Bloomberg)


We've seen a lot of investment in it.

He says another $15 billion is ready to go.

For a brief overview of what he has here, the natural gas pipeline, electric utilities and wind and solar farms across the country, he says that unit could reinvest about $30 billion in the next decade.

There is a's lit in the community because big oil like chevron does not seem to be on board, selling off at least a portion of its clean energy they have pulled out of the utility to invest, saying there is not any funding available.

So kind of a weird split between what the company is doing and what warren buffett is saying.

You are going to the goldman sachs energy summit tomorrow.

Are the nobles going to be a big talk their?

I'm so excited that i get to geek out all day with energy geeks.

It knowing to be about the changes to the co2 emissions proposed a few weeks ago.

Goldman sachs assumes about 25% of coal generation will retire due to changes in environmental rules.

That is ready substantial.

Goldman also says renewables will continue to be able to ramp up over the next 11 years as standards become different state-by-state.

What is going to be interesting is the differential between the supply side and demand side.

We might have a lot of oil and energy, but is there a demand for it?

We may have a lot of natural gas, but where are the refueling stations?

Talking about the distinction between the two will be a huge topic.

Who will you be talking to?

One of the highlights is airy cone from goldman sachs about the investment in the energy space.

We are producing a million barrels a day, but they can't get to it.

Goldman estimates $21 billion could be spent on infrastructure investment to solve that problem.

A huge amount of money and you could add about a million jobs in almost one percent growth to gdp a year.

Just breaking down how that happens and how we get to those big figures and who will be some of the investors.

Alix steel at the goldman sachs north american energy

This text has been automatically generated. It may not be 100% accurate.


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