Subject: Re: OXY below BRK's last purchase
Note: West Texas Intermediate crude oil was $91/barrel in Sept '23, as compared to $55/barrel today. This, combined with a crude oil surplus today, explains some of the high prices paid for acquisitions in late 2023. It does not explain the overly high price paid by Occidental for Anadarko in Aug '19. You may recall that Carl Icahn sued Occidental over the deal.