February 2016, Vol. 243, No. 2

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Wall Street Won’t Give Up on Its Energy Bets

The oil and gas industry is suffering through its worst cycle in a generation, with most companies losing money at today’s prices. Debt is piling up and the losses are starting to become a concern for lenders. Shareholders are getting burned by plummeting share prices. Yet, major investors are still not ready to throw in the towel on oil and gas. Some are even doubling down, raising their bets in an effort to predict the bottom and profit from a rebound. Warren Buffet’s Berkshire Hathaway stepped up its share purchases of Kinder Morgan at the close of 2015, according to The Wall Street Journal. Kinder Morgan is one of the largest energy infrastructure companies in North America, and contro

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