The United States should have a longer-term strategy for its natural gas resources, billionaire Charlie Munger told CNBC as part of a wide-ranging conversation on Wednesday.
The Berkshire Hathaway vice chairman's argument hinges on the prospect of the Middle East eventually exhausting its oil reserves, forcing buyers to turn to pay for U.S. natural gas at a higher premium.
"I wish we weren't producing all this natural gas," Munger said. "I'd be delighted to just have it lie there untapped for decades in the future and pay extra once Arabs use up their oil."
In 2016, excluding the month of December, gross withdrawals of U.S. natural gas totaled 29,899,630 in millions of cubic feet, according to the U.S. Energy Information Administration. The annual total has been rising since the mid-1980s.