these sort of very short-term taco type risks of uh you know sessation of conflict for a brief period, I think unfortunately the war seems likely to go longer. And so I want that sort of medium-termish exposure. And then just from a long run perspective, I think that we're in the middle of an oil cycle. There's been underinvestment in oil for more than a decade really since 2012. that was sort of the peak of exploration spend right as China's growth was peeking out and uh
There's been underinvestment in oil for more than a decade really since 2012.