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I'm surprised that Warren Buffett would say something so incredibly stupid. State Farm does exist and It's doing very well.
I have them, and have since I was 16. Home only now.
They seem like a hell of a better bet than ever-widening roads from sprawling suburbia to city centers that don't really do much to mitigate awful traffic because everyone needs to be in their own little aluminum bubble during their 45 minute commute that only exists because of an overreliance on automobile-based infrastructure.
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I very much enjoy the freedom my automobiles afford me. I figure I may only be remembered for my carbon foot print, so I gonna leave a huge one.