How do you interpret Warren Buffett’s massive investment in oil?

I see a lot of people sounding the alarm on oil stocks, saying things like:

• We're nearing the top and it will drop soon after summer.
• Demand destruction is coming oil will crash.
• Renewables will drive oil down in next 2-3 years.

For people who believe oil is not a good long term hold, how do you interpret Warren Buffet's massive investment in Chevron and Occidental? For example, do you think that:

• He's wrong.
• He might be investing in the short term and may transition out right around summer peak.
• He's not bullish in oil perse, but more bullish in specific two companies that are under valued.

I would really like to hear someone who is bearish on oil stocks critique Warren Buffett's investment here. I bought a lot of oil stocks and I'm very interested in contrarian opinions against Buffett's oil position.