There’s a lot of factors which go into that.. though I’m not totally disagreeing with your perspective.

Crude Oil broke over thanksgiving of 2014.. I believe without looking it up.

That was a sea change in psychology.. Peak Oil.. died.. or at least is hibernating.

2022 with Putin going into Ukraine is another key point.

Now we’re coming off that (kind of your point)..

Again my policy response would be to take the cuffs off ethanol.. Let Consumers decide if they want to save $$$.. we have the plants.. the capacity.. and the market conditions are ripe.

Constraining OPEC+ Constrains Putin.

As commodity prices have come down.. inflation should subside.. cheaper input prices would be good.. In a way, this break is good.

Just the way it is I guess.

We got South America selling into the Board of Trade.

Flip side, the Funds will have to cover at some point.