The Warren Buffett way to profit from the energy crisis4 min read . Updated: 09 Jan 2023, 12:03 PM IST
The Oracle of Omaha struck a gusher with his stakes in Japan’s major trading houses. Today, Buffett is the third-biggest shareholder in Mitsui and a leading investor in its compatriots Mitsubishi, Itochu, Sumitomo and Marubeni
When the Deepwater Horizon rig exploded in the Gulf of Mexico in 2010, triggering the largest-ever oil spill in the US, all eyes turned to BP Plc, the British company behind the drilling. But BP wasn’t alone in the project. Among its partners was Japan’s Mitsui & Co., which held a 10% stake. Little-known outside the natural-resources industry, Mitsui is part of a group of five Japanese companies that invests in energy and commodity projects around the world. They are Japan Inc.’s commodity arm with interests in everything from coal mines in Australia to oilfields in Oman and wheat silos in Canada.
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