Oil and Agriculture - What Do You Think Is the Best Medium Term Investment Opportunity?

Inflationary pressures will likely limit the ability to bring in additional marginal acreage. We are seeing some reductions in capex in the metal side as prices have come down and amazing they're doing it at higher price levels than you would may have expected in the past. But that's big again related to inflationary pressures, but China still is the biggest mover. So yes, the energy transition has positives for the metal space, but it's hard to offset the size and scale of China growth.