Warren Buffett's China Divestment: Greed Or Good?
Which Warren Buffett sold shares in PetroChina Co. Ltd., the philanthropist or the capitalist?...Shortly before the Chinese about-face [on sending UN peacekeeping forces to Darfur], Buffett and Berkshire Hathaway divested a small portion of PetroChina: 0.09%, or 16.9 million shares...In May, dissident shareholders criticized the PetroChina investment openly at the company's annual meeting in Omaha, Neb. They asked Buffett to divest; they were rebuffed... The country's strong connection to the Sudanese government has drawn criticism for good reason. The state oil company, China National Petroleum [CNPC], is...a partner with the Sudan for oil ventures there... Oil proceeds fund the Sudanese government's efforts [in Darfur], along with the brutality, rape and torture.