“My view is that the single-most precious resource in the United States are its hydrocarbon reserves…. I’m a puritan. I always want to suffer now to make the future better, because I think that’s the way grown-ups should behave. So I’m all for using up the other fellow’s oil and conserving our own. And I think the idea of energy independence is one of the stupidest ideas I’ve ever heard grown people talk about. Think of what terrible shape we’d been in if we’d achieved total energy independence way earlier. We wouldn’t have any oil and gas left at all. Wouldn’t that be a wonderful condition? We don’t want energy independence. We want to conserve this stuff. And thank God other people have some of this precious stuff they’re willing to sell. I have the exact opposite idea on this subject than most people and, of course, I think I’m right.” —Charlie Munger
Links - 10/8/2020
Links - 10/8/2020
Links - 10/8/2020
“My view is that the single-most precious resource in the United States are its hydrocarbon reserves…. I’m a puritan. I always want to suffer now to make the future better, because I think that’s the way grown-ups should behave. So I’m all for using up the other fellow’s oil and conserving our own. And I think the idea of energy independence is one of the stupidest ideas I’ve ever heard grown people talk about. Think of what terrible shape we’d been in if we’d achieved total energy independence way earlier. We wouldn’t have any oil and gas left at all. Wouldn’t that be a wonderful condition? We don’t want energy independence. We want to conserve this stuff. And thank God other people have some of this precious stuff they’re willing to sell. I have the exact opposite idea on this subject than most people and, of course, I think I’m right.” —Charlie Munger