Fossil fuels are out of style, according to conventional wisdom. Renewable sources of energy are where the future lies. And it's where a lot of investing dollars are flowing.

But Warren Buffett has never been afraid to go against the crowd. That's exactly what he's doing now. The Oracle of Omaha has led Berkshire Hathaway (NYSE: BRK.A) (NYSE: BRK.B) to invest heavily in oil and gas companies.

Buffett has two big reasons for betting more than $40 billion on fossil fuel stocks.

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Source Fool.com