Warren Buffett's bottom-up strategy doesn't allow him to be affected by things like the Russia-Ukraine conflict. He is focused on owning businesses that will survive spats such as these. Which is why his most recent letter highlighted Berkshire Hathaway's (NYSE:BRK-B) ownership of BNSF Railway company. He is extremely bullish on the long-term prospects; so much so that he has boosted planned capital expenditures to a company record $5 billion for BNSF this year. Most might be wondering if the TransCanada (NYSE:TRP) Keystone XL pipeline worries him at all. Well, it simply doesn't. He believes there will be plenty of oil for everyone. For more, check out the short video clip below.

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This segment is from Tuesday's edition of "Digging for Value," in which sector analysts Joel South and Taylor Muckerman discuss energy and materials news with host Alison Southwick. The twice-weekly show can be viewed on Tuesdays and Thursdays. It can also be found on Twitter, along with our extended coverage of the energy & materials sectors @TMFEnergy.

Joel South has no position in any stocks mentioned. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Berkshire Hathaway. The Motley Fool owns shares of Berkshire Hathaway. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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