Berkshire held almost 58 million shares after purchases this week, or more than 10 percent of the total outstanding, according to a regulatory filing issued Friday by Warren Buffett’s Omaha, Nebraska-based company.
Gasoline prices could tumble below $2 per gallon in some states, but drivers shouldn’t expect to see those deep discounts until the mid-fall when summer driving season ends, demand diminishes and expensive summer gasoline gets replaced with cheaper winter blends.
The Houston-based company has led a wave of new U.S. facilities that make ethylene, used in plastics to polyester. Plants that use low cost gas from shale formations will help U.S. production of basic chemicals increase for the next four years, starting with a 3.1 percent rise this year and peaking at 6 percent in 2018.
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