Fuel costs are well under 100% of transport costs. Well, well under. This says 20-40%, and ship costs are not the only costs associated with transport, so it’s

Fuel costs are well under 100% of transport costs. Well, well under. This says 20-40%, and ship costs are not the only costs associated with transport, so it’s an even smaller fraction of total cost. https://www.morethanshipping.com/imo-2020-and-oil-prices-in-shipping/ https://www.morethanshipping.com/imo-2020-and-oil-prices-in-... Moreover, the total energy being transported is surely much higher than the oil burned. That’s the key feature of oil....it is energy dense!