AUDIENCE MEMBER 00:08
Just wanted to ask you a quick question about the fact that you were an early proponent of electric vehicles, specifically your investment in BYD.
I wonder if from your perspective from today other technologies, like hydrogen, fuel cells, or others that may come to mind, are equally important in terms of their emerging capabilities and what sort of impact they may have.
CHARLIE MUNGER 00:33
Well, I think electric vehicles will be more popular than hydrogen and fuel cells.
Getting the sun’s energy transferred into electricity and into the vehicles is basically a good idea for the long pull. And I think all the technology is going to work. Some of it’s actually improving.
We may get a lithium battery that’s actually quite safe and more energetic than most we have now. I think that’s all to the good.
When I came to California, we had Petroleum Club, and we had wildcatters. We have a big oil industry, a little like Texas. I don’t think we found any new oil to speak of in California in decades. I think it’s dangerous to rely on hydrocarbons for energy. Of course, we’ve got to take more directly from the sun.
I think that Texas will eventually get to be like California.