By Minener Editorial Team | May 2025
Warren Buffett, the 94-year-old “Oracle of Omaha” and long-time CEO of Berkshire Hathaway, has officially announced his retirement, closing a monumental chapter in American business and energy history. His successor, Greg Abel, will take over day-to-day operations, marking a generational shift at one of the world’s most influential conglomerates.
Buffett’s Energy Empire
Buffett’s legacy in the U.S. energy landscape is colossal. Through Berkshire Hathaway Energy (BHE), a subsidiary that he helped expand over two decades, Buffett transformed the company into a dominant force across renewable and conventional energy domains. BHE today operates in 11 U.S. states and parts of Canada and the UK, servicing over 5 million electric and gas customers. It boasts over 29 gigawatts of power generation and controls nearly 22,000 miles of natural gas pipeline.
Buffett’s commitment to long-term value was evident in his energy strategy: a combination of large-scale infrastructure, sustainability goals, and diversified assets. Under his leadership, BHE invested more than $34 billion in renewable energy, focusing heavily on wind and solar projects in the American Midwest and West. At the same time, Berkshire has stakes in Occidental Petroleum, Chevron, and other oil majors — reflecting Buffett’s pragmatic view that fossil fuels will remain part of the energy mix for decades.
“You don’t want to bet against America,” Buffett once famously said — a mantra that guided his energy plays. By building out grid infrastructure, supporting carbon reduction while staying rooted in economic fundamentals, Buffett ensured BHE became a model for resilient, profitable energy investment.
Strategic Acumen: Grid and Storage Vision
BHE under Buffett was an early mover in battery storage, grid modernization, and distributed energy resources. Its Nevada solar-plus-storage projects and its leadership in wind energy in Iowa are now industry benchmarks. The company is also a key player in Western U.S. grid integration efforts and has signaled readiness to participate in national-scale transmission reforms.
Buffett also supported energy independence at the national level. Through Berkshire’s capital strength, BHE could make large upfront infrastructure investments where traditional utilities hesitated — pushing the U.S. energy sector into new territory. This included gas pipeline expansions and renewables-to-grid connectivity in underdeveloped regions.
Succession: The Rise of Greg Abel
Greg Abel, Buffett’s longtime protégé and vice chairman of Berkshire’s non-insurance operations, officially assumes control as CEO. With deep roots in energy — having led MidAmerican Energy and later BHE — Abel is widely seen as the natural successor. His focus on operational excellence, ESG compliance, and long-term capital deployment aligns closely with Buffett’s approach.
Abel has spearheaded major clean energy projects and is a vocal advocate of energy market reforms. Insiders expect continued expansion in renewables, carbon capture, and grid tech under his leadership. “The culture remains intact,” Buffett said in a letter to shareholders. “Greg understands our values, and he knows how to allocate capital intelligently.”
Market Reaction and Industry Implications
Markets reacted cautiously to Buffett’s departure, with Berkshire shares dipping slightly amid investor uncertainty. However, most analysts see the leadership transition as stable and well-timed. Given Abel’s extensive track record, especially in the energy sector, many expect Berkshire Hathaway Energy to continue playing a foundational role in America’s energy transformation.
Buffett’s exit also reopens discussions about energy investment models. His preference for regulated assets, long-term contracts, and infrastructure-heavy strategies has shaped investor behavior. With increasing volatility in global energy markets and a renewed U.S. focus on domestic production, Buffett’s principles may prove more relevant than ever.
Legacy of Vision and Stability
Buffett’s influence stretches beyond energy profits. His leadership encouraged transparency in energy financing, long-term regulatory partnerships, and a strong ethical stance in utility operations. At a time when many questioned the profitability of green energy, Buffett invested — not because it was trendy, but because it made sense.
As America navigates climate goals, energy security, and electrification challenges, the framework Buffett built — robust assets, strong leadership, and reinvestment discipline — stands as a benchmark for the sector. The clean energy future might now rest in new hands, but it will be built on the foundations he laid.