uh-oh, texas

Energy Future Might Go Bankrupt

According to Warren Buffett, unless natural gas prices suddenly skyrocket, Energy Future Holdings Corp. will “almost certainly” file for bankruptcy this year. Buffett is chairman of Berkshire Hathaway Inc., which suffered a pretax loss of $873 million on its $2 billion Energy Future invested. In a letter to shareholders, Buffett called making the wager without talking to Vice Chairman Charles Munger, 90, a “big mistake” and said that Berkshire exited the holding last year. Energy Future is Texas’s largest electricity provider and was purchased in 2007 as the largest leveraged buyout in history.