abusesaffiliationarrow-downarrow-leftarrow-rightarrow-upattack-typeburgerchevron-downchevron-leftchevron-rightchevron-upClock iconclosedeletedevelopment-povertydiscriminationdollardownloademailenvironmentexternal-linkfacebookfiltergenderglobegroupshealthC4067174-3DD9-4B9E-AD64-284FDAAE6338@1xinformation-outlineinformationinstagraminvestment-trade-globalisationissueslabourlanguagesShapeCombined Shapeline, chart, up, arrow, graphLinkedInlocationmap-pinminusnewsorganisationotheroverviewpluspreviewArtboard 185profilerefreshIconnewssearchsecurityPathStock downStock steadyStock uptagticktooltiptwitteruniversalityweb
Article

21 Feb 2007

Author:
Berkshire Hathaway

[PDF] Commentary as to Berkshire’s holdings in PetroChina Company Limited

We have received several communications from the media, shareholders, and others questioning Berkshire’s investment in PetroChina because of the atrocities that are occurring in Sudan. Berkshire agrees that conditions in that country are deplorable and sympathizes with people who want to remedy them. We believe, however, that they are wrong in both their analyses of PetroChina’s connection to these conditions and their belief that our divesting our PetroChina holdings would in any way have a beneficial effect on Sudanese behavior... Proponents of the Chinese government’s divesting should ask the most important question in economics [about the effect of CNPC (China National Petroleum Corp.) divesting from Sudan:] “And then what?”