Look back at history. When we're in a scenario where the market goes,' Oh, s ***, we don't have spare capacity,' that's where you see overshoots. Christyan Malek More Quotes by Christyan Malek More Quotes From Christyan Malek We are massively oversupplied. Christyan Malek top-news They will look for excuses to take a breather. Christyan Malek We've taken oil availability for granted. Christyan Malek Covid-19 wiped out investment. These countries had to protect themselves fiscally. They didn't allocate as much into spare capacity. Christyan Malek To do that, you have to invest less. You can put money in the ground or give it back to shareholders. If you do the latter, you are under investing. Christyan Malek We didn't use to have a transition cost. Now we do. Christyan Malek