Subject: Re: OxyChem Deal: , another opinion,
I don't understand what the big deal about OXY's Permian stake is other than the fact that it a domestic source of oil. I read that we don't even have the refining capacity to produce gasoline from the light sweet crude produced by the frackers in Permian so we export that crude. In stead we import heavy crude from Canada & refine it. There also seem to a lot of new discoveries in Guyana, Brazil (offshore & deep water) & Argentina. The Vaca Muerta region in Argentina apparently has more oil than Permian and is just beginning to be developed.

So I don't understand why OXY & Vicki are so highly regarded by Buffett, although he hedged his bets not only with the OXY preferred but also with a big stake in CVX.