Selling an EV maker and buying an oil company; a typically contrarian move.

The Toyota former CEO states: "People are finally seeing reality" - i.e. that the transition to EV light transportation is going to take longer than the public generally realizes. He thinks it will eventually happen but not on the time scale many expect. Many reasons - costs, range, time required to develop large material supplies needed, charging infrastructure, existing fleet replacement, etc. These issues are all known and have been pointed out but only now are starting to sink into public awareness.

And there are many areas of carbon emission that EV's don't address. Airlines and heavy transportation, industrial plants, steel, cement, and fertilizer production, petrochemicals, mining and agriculture, etc.

Economic growth by developing countries requires increased energy consumption. Fossil fuels are cheaper and easier to transport and deliver than electricity.

So, maybe Buffett's moves are just recognizing reality.

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