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2010年股东大会 · 巴菲特为何如此钟情石油行业?

34 段 · 3 位说话人 · 原片 3:59
M1
M10:00

你觉得,我们现在的繁荣,有多大一部分要归功于这样一件事:我们能以远低于它在经济中对我们价值的成本,把石油从地下开采出来?

How much of our current prosperity do you attribute to us being able to get oil out of the ground at a fraction of the cost of its value to us in the economy?

那将来如果我们再也不能越来越多地享用这种免费午餐,而不得不依赖像 solar 和 wind 这种更稀薄的能源来源时,我们还怎么能过得更好呢?

And how will we be able to live better in the future when we can no longer get more and more of this free lunch and we become dependent on more dilute sources like solar and wind?

这会不会就像拿一瓶 Coca-Cola 去满足一个毒瘾患者,根本不顶用?

Couldn't this turn out like trying to satisfy a drug addict with a Coca-Cola?
M2
M20:29

很明显,石油的发现——那是什么时候来着,大概是一八五零年左右吧?

Obviously, the discovery of oil— when was it, about 1850-something?

一个什么上校—— Pennsylvania 的 Titusville 那边的 Colonel Drake,还是什么来着。

Colonel something— Colonel Drake at Titusville, Pennsylvania, or something.

那件事非常重大地改变了世界,而且那也就是一百五十年前的事。

That changed the world in a very major way, and it was only 150 years ago.

从那以后,我们就一直以惊人的速度把吸管插进地里,呃,往外抽油。

And since then, we've been sticking straws into the earth, uh, at an incredible pace.

美国有超过五十万口正在生产的油井。

There's over 500,000 producing wells in the United States.

你敢相信吗?

Would you believe that?

我是说,平均下来一天也就十一桶或者十桶左右,差不多就是这个量。

I mean, 11 barrels or 10 barrels a day average or something of the sort.

我是说,我们真的是把这种可能花了——我也不知道——几十万年甚至几百万年才形成的东西,给大规模开发掉了。

I mean, we have really exploited what may have taken, I don't know, what is hundreds of thousands of years or millions of years to create.

它对世界的繁荣有着巨大的贡献,但是在我看来,未来一百年,世界不会依赖这一种特定的——呃,算是天降横财吧。

It's contributed in a huge way to the prosperity of the world, but the world, in my view, will not be dependent upon that particular, uh, call it windfall, for the next 100 years.

Charlie 对这个话题懂得比我多得多,但是,但是还会有别的免费午餐可用,你知道,不管是 solar 还是什么——可能性多得很。

And Charlie knows way more about this subject than I do, but, but there will be other free lunches available, you know, whether it's solar or— there's lots of possibilities.

别,千万别,千万别低估人类用创新去解决那些看起来无解的问题的能力。

Don't, don't ever, don't ever give up on, on humans' ability to innovate in ways that creates solutions to problems that seem insolvable.

我们已经见过各种各样的预测,呃,比如说什么,所有发明都已经被发明完了。

We've faced all kinds of predictions, uh, you know, all of the inventions having been invented.

有句很有名的话是这么说的,我忘了是谁讲的。

There's some famous statement, I forget who made it, on that.

我的意思是,那个——

I mean, there—.
M3
M32:03

它——

It—.
M2
M22:03

那个——那个——我们其实都还没真正开始呢。

The— there— the— we haven't really started.

我是说,如果让你在历史上挑一个你最想出生的时代,先把 nuclear、chemical 和 biological 的威胁排除掉——虽然这可不是个小前提。

I mean, if you could pick a time in history when you would want to be born, leaving out the nuclear, chemical, and biological threat, which is something to leave out.

不过你知道,我会选今天。

But, you know, I would pick today.

你知道,我,我觉得,这个,这个世界的未来是光明的。

You know, I, I, it's, it, the world has a bright future.

现在,Charlie 会给你讲讲另一面。

Now, Charlie will give you the other side of that.
M3
M32:27

嗯,不,我觉得你忽略了一个非常重要的点。

Well, no, I think you're failing to recognize something really important.

在一百五十年前的技术条件下,他们确实需要石油,才能发展起来。

In the technology of 150 years ago, they really needed the oil to get ahead.

而我们现在这个先进文明,已经受益于过去这一百五十年的技术积累。

In our advanced civilization, which has benefited from this last 150 years of technological expertise.

我们不——如果必须的话,没有石油我们也能继续发展。

We don't— we can get ahead without the oil if we have to.

Freeman Dyson 是一位 physicist,不是 economist,但他是个天才。他很擅长指出这样一点:如果一个摆脱石油的世界,能像我们现在这样富有、这样有知识,那去设想这样一个世界,其实并没有那么可怕。

Now, Freeman Dyson is a physicist who is not an economist but a genius, and he's been very good at pointing out that it isn't that horrible to contemplate a world which goes off oil, provided that world is as rich and knowledgeable as ours is now.

所以说,一百五十年前如果没有石油,他们就不可能走到我们今天这个地步;但这并不意味着,如果必须的话,我们今天就不能没有石油。

So the fact that they couldn't have got to where we are now without the oil starting 150 years ago does not mean we can't do without the oil if we have to.

归根结底,跟取暖和驱动车辆相比,我们更需要 oil、gas 和 coal 的地方,其实是把它们当作 chemical feedstocks。

We need the oil and the gas and the coal eventually for chemical feedstocks more than we need it for keeping warm and propelling our vehicles.
M2
M23:38

而且这个调整,幸运的是,会是个相当渐进的过程。

And the adjustment, fortunately, is— will be fairly gradual.

我的意思是,它不会像每天八千五百万桶一下子在五年或十年里掉到五千万桶那样。

I mean, it is not like 85 million barrels a day goes to 50 million or something in 5 or 10 years.

所以,所以在我看来,这是一个可以应对的调整期。

So, so it's, it's a workable period of adjustment, in my view.
M3
M33:55

这个——如果连更懂这件事的 Freeman Dyson 都不太在意,我觉得你也没必要太担心。

It's— if it doesn't bother Freeman Dyson, who knows more about it, I don't think it should bother you too much.