In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. Friedrich Nietzsche
What’s more intriguing is that Uncle Warren himself seemed to confirm such speculations with a cryptic remark to MSNBC. After calling Exxon a “wonderful company,” he said, “We thought we might have other uses for the money.”
Read MoreBuffett’s move shows us the future of oil; it’ll be drilled in safe places like Canada while investors leave the Middle East to burn.
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The effect of falling oil prices should have us wondering about other commodities and energy in general. As modern technology makes increases the supply of commodities, prices will drop making industries and enterprises unprofitable with devastating effects on employment and the greater economy.
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Energy is not the only industry that would be disrupted by falling oil and gas prices. The effect of cheaper gasoline on big retail could be just as profound and wide ranging.
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