‘The oil and gas industry will be here for a long, long time:’ Charlie Munger

Charlie Munger, Daily Journal Chairman and Berkshire Hathaway Vice Chairman, discusses the energy sector.

Video Transcript

CHARLIE MUNGER: I think the oil and gas industry will be here for a long, long time. As a matter of fact, it'll be here for a long, long time if we stop using as much hydrocarbons in transportation. The hydrocarbons are also needed as chemical feedstocks. And I don't think the hydrocarbons are going.

I'm not saying that oil and gas is going to be a wonderful business. But I don't think it's going away. And I don't think it's like the newspaper business.