Berkshire Hathaway Makes Investment In North American Oil Production As Oil Sinks

Is Warren Buffett diving deeper into the North American oil market, adding to his exposure, when blood is on the street and the price of oil is making lows not witnessed since 2009?

Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B)'s Lubrizol Corporation, a manufacturer of lubricant additives for engine oils, driveline and other transportation-related fluids and industrial lubricants, announced the purchase of Weatherford International Plc (NYSE:WFT)’s oilfield chemicals business, known as Engineered Chemistry and its drilling fluids business, Integrity Industries. The deal represents a play on North American oil drilling at a sensitive time when the opening of new North American oil wells is in question with the sagging price of oil worldwide.