Next, we need a way to hedge future road vehicle fuel taxes. If they are now ~$1, there are those who want them at ~$3. It may be worthwhile to prepay the taxes on some of that fuel too.
The bad news is amid all the upheaval and destruction of demand, total consumption is to be down no more than 1% this year, if that.
Out of 84 million barrels a day of global consumption.
< 1% is not the sort of number that extend the lifetime of what’s in the tank. We, globally, are running out and there is no law of the universe that says the alternative is going to arrive before some desperate countries decide that there are ways to destroy demand other than recession.
Nuclear bombs come to mind. They would reduce demand, elsewhere.
You continue to read my mind. Actually, I was thinking of buying twice as many shares, just for that reason. Some of the Orwellian stuff, like road pricing, is really nasty. It would be great just to have the money pre-allocated and ignore Big Brother telling me where and when to drive.
(sorry for the delay, I had to burn some oil to pick up one of my kids)