Ann: Investor Presentation May 2022, page-44

So you made an interesting point there about commodity prices. A "collapse" of 50 or 60% would see prices go back
to the days when Jewell started building.

Is it great management that BRK is bringing in the cash or just a stroke of luck? If prices were $60 per barrel what does the business look like? Yes it would be profitable but based on what you just wrote oil at $60 is a very bad thing for holders that came in exactly the same time when prices were at $60

This is why I say it's very speculative coz the entire fortunes of BRK ride on things that have no control over.