"From a standing start nine years ago, MidAmerican now accounts for 7% of the country's wind generation capacity, with more on the way," Buffett said. "Our share in solar -- most of which is still in construction -- is even larger."
The costs of many recent MidAmerican deals, especially in solar energy, haven't been disclosed. However, Berkshire did disclose that MidAmerican's renewable energy investment hit $15 billion at the end of 2013, indicating it is one of Berkshire Hathaway's biggest investment priorities.
"Our confidence is justified both by our past experience and by the knowledge that society will forever need massive investments in both transportation and energy," Buffett said of Berkshire's investments. "It is in the self-interest of governments to treat capital providers in a manner that will ensure the continued flow of funds to essential projects," he added, while concluding it is in Berkshire's interests to do business in a way that "earns the approval of our regulators and the people they represent."
Perhaps, as President Obama attempts to pitch the American public, a divided legislature, and states that have resisted other policies such as the Affordable Care Act, Buffett will add to his comments on renewable energy investments.
For now, Berkshire looks well positioned for the enactment of any further attempts to cut greenhouse gas emissions, especially if those efforts center upon using renewable projects to replace idled coal-fired plants.
Bottom Line: Warren Buffett became President Obama's most credible spokesperson of the stimulus and bank bailouts. While the 'Oracle' was lukewarm on healthcare reform, new EPA emissions guidelines prove to be a rallying cry.
-- Written by Antoine Gara in New York.