Longer Term "Stranded Assets" / musical chairsFood for thought lest anyone take seeming perpetual rising commodity prices for granted:
"Individuals in rich countries face huge financial losses if climate action slashes the value of fossil fuel assets, a study shows, despite many oil and gas fields being in other countries. The researchers estimated that existing oil and gas projects worth $1.4tn (£1.1tn) would lose their value if the world moved decisively to cut carbon emissions and limit global heating to 2C. By tracking many thousands of projects through 1.8m companies to their ultimate owners, the team found most of the losses would be borne by individual people through their pensions, investment funds and share holdings.
The analysis also found that financial institutions have $681bn of these potentially worthless assets on their balance sheets, more than the estimated $250-500bn of mispriced sub-prime housing assets that triggered the 2007-08 financial crisis.
The researchers did not predict if or when these fossil fuel “stranded assets” would cause a financial crash, but said the size of the number was worrying." https://www.theguardian.com/environment/2022/may/26/people-in-us-and-uk-face-huge-financial-hit-if-fossil-fuels-lose-value-study-shows