Warren Buffett Sees Promise in Oil Sands. Should You?
Aug 23rd 2013 12:00PM
Updated Aug 23rd 2013 12:02PM
Oil sands have not had it easy lately. Between labor shortages, operational cost increases, and a general lack of pipeline capacity, exploration and production of Canadian oil sands has not been the most profitable venture. Several companies have either backed out or are putting their assets up for sale. For anyone that knows a little about Warren Buffet, though, would know that when everyone is selling, it's very likely that he is buying.
That very thing just happened. Buffet recently acquired a large stake in Canada's largest oil sands producer, Suncor . For those looking to follow in Buffet's footsteps, there are some signs of life coming from this formerly downtrodden industry. Tune into the video below where Fool.com contributor Tyler Crowe takes a look at some of the positive signs from the oil sands industry and ponders what it will take to keep the momentum going.
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The article Warren Buffett Sees Promise in Oil Sands. Should You? originally appeared on Fool.com.Fool contributor Tyler Crowe owns shares of Berkshire Hathaway. You can follow him at Fool.com under the handle TMFDirtyBird, on Google +, or on Twitter: @TylerCroweFool. The Motley Fool recommends Berkshire Hathaway. The Motley Fool owns shares of Berkshire Hathaway and Devon Energy. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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