Subject: Re: More OXY
"There are reasons why big oil companies like XOM base their huge multi-year investments on base cases like $60 Brent crude with $40 sensitivity cases."

Doesn't Mr. Market generally value the E&P companies priced based on strip prices?

https://www.cmegroup.com/marke...

Strip pricing currently has WTI at less than $60/bbl from May 2027 and beyond.

With inflation at ~6%/year, am guessing that Buffett/Munger think oil prices will be significantly higher than $60 a barrel in 2027 and beyond.