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The 21st-century “white gold,” lithium (LMN24), is crucial for powering electric vehicles (EVs) in a world zipping toward green energy and consumer electronics, with high-voltage capacity and quick-charging batteries. According to the International Renewable Energy Agency, battery lithium demand is projected to surge tenfold by the end of the decade, driven by growing battery demand.
Oil and gas exploration company Occidental Petroleum Corporation (OXY) is steering toward a sustainable future. The company has teamed up with Berkshire Hathway’s BHE Renewables, harnessing cutting-edge Direct Lithium Extraction (DLE) technology to meet surging lithium demand. This strategic move underscores Occidental’s commitment to cleaner energy and aligns with the “Oracle of Omaha” Warren Buffett’s investment ethos, with Berkshire Hathway (BRK.A) (BRK.B) simultaneously boosting its stake in the energy firm.