Warren Buffett gives lip service to climate change

But ends up telling shareholders it should not be on their list of worries.

In a letter to shareholders, Warren Buffett dismissed the possibility that climate change could prove a big risk to Berkshire Hathaway’s insurance business.

Here are a few excerpts from that letter, which was released on Saturday:

“It seems highly likely to me that climate change poses a major problem for the planet,” Buffet wrote. “I say ‘highly likely’ rather than ‘certain’ because I have no scientific aptitude and remember well the dire predictions of most ‘experts’ about Y2K.

“It’s understandable that a shareholder) might believe Berkshire is especially threatened by climate change because we are a huge insurer,” Buffet continued. “…such worries might, in fact, be warranted if we wrote ten- or twenty-year policies at fixed prices. But insurance policies are customarily written for one year and repriced annually to reflect changing exposures.”

“Up to now, climate change has not produced more frequent nor more costly hurricanes nor other weather- related events covered by insurance.

“As a citizen, you may understandably find climate change keeping you up nights. As a homeowner in a low-lying area, you may wish to consider moving. But when you are thinking only as a shareholder of a major insurer, climate change should not be on your list of worries.”

See pages 25-26 of Warren Buffet’s annual meeting report re climate change:

Thanks to Kurt Strom for this link

10 thoughts on “Warren Buffett gives lip service to climate change

  1. Yes, Warren has given us another buffet of BS this year, not much different as usual, such as his criticism of gold, and telling us the economy is doing well, nothing to worry about, as long as you use the statistics he uses… but if you don’t? Trouble.

  2. His Trains run the fastest here in IL. while others struggle to stay in business ,and when they go broke he buys em for a song, then hauls the oil with his Diesel Trains. Ain’t he the green one.

  3. The news media loves to quote Buffet. They won’t this time.

    If they cared about the truth, they would cite his report that:
    “Up to now, climate change has not produced more frequent nor more costly hurricanes nor other weather- related events covered by insurance.” (Unlike the claims constantly made by Obama, Hillary etc.)

    Insurance is a business that relies upon ACTUAL occurrences (rather than made-up scenarios) and his insurance companies know what is actually going on.

  4. One of the newsletters I receive regularly (“Wealth Daily”?) reported a few years ago on a Bilderberger meeting, where global cooling was on the agenda. Perhaps another reader may remember the details. Isn’t W.B. a member?

    Goldman Sachs recommends that investors sell gold short. Seems to me like market manipulation.

    • I think that Bilderberger meeting was late 2012. Shortly after that (January 2013) gold plummeted from $1800/oz.

      • Deon, That’s why I always say, ‘they know whats going on w/climate’ ,these are the real 1% who are guilty of crimes against humanity. Trump’s not in their click, they own the msm sicko’s, it shows w/all the long faces when they have to talk with the Donald or anyone else who speaks the truth.

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