Warren Buffett, Hell Inch Closer to Rendezvous

Fortune asks if Warren Buffett is “helping to support genocide in Darfur.”

Berkshire has become a target of the divestment campaign because it owns 2.3 billion shares of PetroChina Co., a subsidiary of the state-controlled China National Petroleum Corp. (CNPC). CNPC has extensive operations in Sudan; it owns a major stake in Sudan’s national oil consortia.
China and Sudan are engaged in a marriage of convenience. For its part, China gets oil – Beijing purchased more than half of Sudan’s oil exports in 2005. China’s growing demand for energy has led the Chinese to cultivate close relationships with many oil-rich African nations.
In return, Sudan gets money, weapons and political backing from China. Because about 70 to 80 percent of Sudan’s oil revenue is funneled into its military, China’s oil assets in Sudan are “an undeniable and well-documented enabler of Khartoum’s genocidal policy in Darfur,” according to the Sudan Divestment Task Force.

Hmm…seems like a bit of a stretch to me. I’m not so sure Warren can take the blame on this one. Now, about that annoying Cockney gecko….

Posted by Eddy Elfenbein on April 18th, 2007 at 7:48 am

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