Business

Warren Buffett loves the occult. Should you?


Mysterious Oil turned out to be very valuable to Warren Buffett’s Berkshire Hathaway. But is it a good deal for others?

High oil and gas prices are particularly beneficial to Occidental, whose production has not increased, unlike some independent oil and gas producers. The company squeezed out nearly $3.8 billion in net profit in the second quarter, about 16% more than what analysts polled by Visible Alpha had expected. It generated $4.2 billion in free cash flow before working capital — a quarterly record.



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