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.

What else can we learn from the Oracle of Omaha?

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.

This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. We’re motley! Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer.