“Dirty Warren” Buffett just put half a billion dollars into tar sands

Warren Buffett Buys Over $500 Million of Suncor Tar Sands Stock, Latest in “Dirty Deeds Done Dirt Cheap”

Warren Buffett – the fourth richest man on the planet [1] and major campaign contributor to President Barack Obama in 2008 [2] and 2012 [3] – may soon get a whole lot richer.

That’s because he just bought over half a billion bucks worth of Suncor Energy stock [4]: $524 million in the second quarter of 2013, to be precise, according to Securities and Exchange Commission filings. Suncor is a major producer [5] and marketer of tar sands via its wholly owned subsidary Petro-Canada [6] (formerly Sunoco [7]) and this latest development follows a trend of Buffett enriching himself through dirty investments and deal-making.

So far in 2013, Suncor (formerly Sun Oil Company [8]) has produced 328,000 barrels per day of tar sands crude.

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