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• Buffett Nearing $10B Deal for OxyChem, But Could Buy for a Penny
  Berkshire Hathaway could pick up Occidental...

  Berkshire Hathaway could pick up Occidental Petroleum’s chemicals unit—reportedly worth $10 billion—for a single penny in exchange for canceling the equivalent debt, preferred shares, and warrants, according to analysts.

  
  

  Oxy’s initial $10 billion in debt to the Warren Buffett-led conglomerate came from financing its $55 billion acquisition of Anadarko Petroleum in 2019 for cash, stock, and debt assumption.

  
  
  

  
  

  
  

  In addition to the note on the loan, Berkshire received preferred stock that pays an 8% dividend annually, as well as warrants.

  
  

  
  

  
  

  The Financial Times reported earlier this week that Oxy is looking to sell its chemicals business OxyChem to reduce debt, which is currently about $25 billion.

  
  
  

  
  

  On Sept. 30, The Wall Street Journal reported that the buyer might be Berkshire Hathaway, citing unnamed sources familiar with the matter.

  
  
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• Government Shuts Down After Senate Spending Votes Fail
  The government shut down on Wednesday morning at 12:01...

  The government shut down on Wednesday morning at 12:01 a.m., amid a bitter spending deadlock between President Trump and Democrats in Congress that will disrupt federal services and leave many federal workers furloughed.

  
  

  It was the first federal shutdown since 2019, when parts of the government were shuttered for 35 days in a standoff between congressional Democrats and Mr. Trump over the president’s demand to fund a wall at the southern border.

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• ☕️What Else is Brewing Wednesday Morning
  Pfizer exempt from Trump’s tariffs, agrees to lower drug prices. President...
  Pfizer exempt from Trump’s tariffs, agrees to lower drug prices. President Trump announced an arrangement with Pfizer yesterday in which the drugmaker will lower prices on some drugs in the US and invest $70 billion in domestic drug manufacturing. As part of the deal, Pfizer will earn a three-year reprieve from Trump’s tariffs on the pharmaceutical industry. The company will sell the discounted medications on a direct-to-consumer website called TrumpRx. The president posted on social media last week that he plans to impose a 100% tariff on pharma companies starting today, unless they build manufacturing plants in the US. Pfizer’s stock climbed ~7% after news of the deal.
  
  President Trump told top military officials that US troops should use American cities as “training grounds,” while Defense Secretary Pete Hegseth vowed to end what he called the military’s “woke” culture.
  
  Boeing is developing a new single-aisle airplane that would replace the troubled 737 Max, the Wall Street Journal reported.
  
  Nike beat Wall Street’s quarterly sales expectations as new CEO Elliott Hill tries to lead the shoe giant’s turnaround.
  
  OpenAI launched a social app that allows users to share AI-generated videos in a TikTok-like feed.
  
  The Energy Department is telling employees to stop using the words “climate change,” “green,” and “sustainable,” according to NPR.
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• DAILY OIL PRICE: September 30, 2025
  Crude Oil: 62.37   (-1.08)....
  
  
  • Crude Oil: 62.37   (-1.08).
  
  
  • Nymex MTD AVG: 63.4713.
  
  
  • Natural Gas: 3.303   (+0.036).
  
  
  • Gasoline: 1.9729   (-0.0222).
  
  
  • Spreads: November/December (+0.41)     December/January (+0.28).
  
  
  • Plains WTI Posting: 58.85   (-1.08).
  
  

  
  Source: Odessa American
  
  
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• Dow closes at new record as U.S. stocks gain despite looming government shutdown
  U.S. stocks finished modestly higher on Tuesday to close...

  U.S. stocks finished modestly higher on Tuesday to close out an unusually strong September in light of the Federal Reserve's first interest-rate cut in nine months and a fresh wave of artificial-intelligence frenzy.

  
  

  The Dow Jones Industrial Average rose 0.2% to end near 46,397 — booking a new record-high close and surpassing its previous closing high from Sept. 22. For the month, the blue-chip index was up 1.9%, according to preliminary data from FactSet.

  
  

  The S&P 500 was up over 0.4%, ending at around 6,688. The large-cap benchmark index gained 3.5% this month, its best September in 15 years, according to Dow Jones Market Data.

  
  

  The Nasdaq Composite popped 0.3%, to finish at around 22,660. The tech-heavy index advanced 5.6% in September.

  
  

  The gains came despite Washington being hours away from another government shutdown, with Democrats and Republicans still far apart on a deal to avert a shutdown.

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