OMAHA- As Warren Buffett sat at Berkshire Hathaway's virtual annual meeting from Los Angeles, he and Charlie Munger spent almost four hours answering questions from climate change to income tax rates all the while being the first meeting not held in Omaha in almost 50 years. They were joined by Ajit Jain and Greg Abel, the vice chairmen of the many companies Berkshire operates. Buffett said he wanted to give exposure to the two men as they are likely to be considered as CEO when he steps down.

Looking to the future, he was pressed hard about climate change and how that will impact Berkshire. He said the company has already taken steps to support wind and solar energy and has supported efforts to get those industries into population centers.

The conversation then switched to Biden's proposal to raise corporate tax rates from 21% to 28%. Buffett responded simply by saying he did not want to comment but even if he did, he does not speak for all of Berkshire. In the past though, Buffett has criticized the US tax system for not taxing wealthy people more. Munger replied, “I don’t think it would be the end of the world. We’ll adjust to the tax rate, whatever it is.”

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