Warren Buffett is known for his stance on value investing, and there have been quite a few different companies that he has dipped his hand in during the economic downturn. Warren Buffett has said time and time again that the best time to invest is during fear and economic panic, and with the oil industry fluctuating pricing daily its no wonder Warren Buffett has made a $1 Billion dollar bet in the oil industry. Warren Buffett has made a huge bet in the Phillips 66 company, which is a company that actually refines crude oil.
Phillips 66 is a company that has been on an upswing for Warren, with their refining business able to buy crude much cheaper thanks to oil prices the stock has been on a recent run. Phillips 66 is one of the better known crude oil companies in the industry, and they not only operate a refining business but they also operate thousands of Phillips 66 gas stations across the country as well. Warren Buffett likes a recognizable American brand, and nothing is more American than the Phillips 66 company. Warren Buffett believes in backing an American run company, and even though the future of fossil fuels looks bleak Warren is still backing the oiling refining companies.
Warren Buffett will be staying in a number of different industries even when technology is going to switch to a more cleaning energy form. Warren Buffett is known for saying that the best time to invest is during economic downturn and fear. When it comes to investing in the oil companies Phillips 66 is one of the best companies to back, and with Warren Buffett increasing his position in the company there is never a better time to invest. Phillips 66 is an excellent American run company, and for now and the foreseeable future.