Warren Buffett's Berkshire Hathaway increased its stake in Occidental Petroleum from 27.6% to 28.2% by purchasing 4.3 million common shares, as revealed in a US SEC filing. Despite Buffett's previous statement at Berkshire Hathaway's annual meeting that they had no intention of taking control of Occidental, the investment aligns with his strategy of investing in solid companies within undervalued sectors. Analysts like Rob Thummel and Simon Wong commented on the rationale behind Buffett's interest in Occidental, highlighting the company's straightforward business model and the oil and gas sector's potential due to underinvestment in new projects.

The United Auto Workers' strike against Ford, General Motors, and Stellantis is indicative of broader conflicts that may arise as the economy transitions from fossil fuels to electric vehicles (EVs). This shift impacts labor, with potential job losses in traditional auto manufacturing and its supply chain. The strike, which began on September 15, has yet to be resolved through labor negotiations. The transition to EVs is part of a larger effort to combat climate change, as evidenced by severe weather events and their economic impacts. Experts at the World Petroleum Congress discussed these issues, highlighting the need for an industrial policy to manage the workforce transition and the challenges faced by traditional automakers against competitors like Tesla.