Warren Buffett is spending billions to turn Iowa into "the wind capital of the world, the Saudi Arabia of wind," he told the Financial Times.
However, Berkshire Hathaway's billionaire boss isn't emulating Greta Thunberg - leading the charge on climate change, cutting carbon emissions at any cost. Instead, government incentives are fueling his investments in renewable energy.
"We wouldn't do [it] without the production tax credit we get," he told the newspaper.
If people want us to junk our coal plants, either our shareholders or the consumer is going to pay for it," he told the Financial Times. If consumers pay, those living in coal-reliant regions would foot the bill while others pay nothing, he added.
Public officials should oversee structural changes and mitigate their costs, Buffett argued. "The government has to play the part of modifying a market system."
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