Why buy oil? A supply glut, tepid growth, rapid innovation in energy efficiency, renewables, green cars etc. Even the Rockefeller's divested oil from their investments, and today they harshly criticized Exxon Mobil for its alleged campaign against climate change dating back to the 1980's. Think about that. The family that started what is now Exxon Mobil scathingly attacked the company for its anti environmental actions.

Why buy water? Survival.

If we go out decades, would it be far fetched to see oil nearly non existent/worthless? Would water be a more valuable resource?

Two charts below to pair trade this theme short term. Sell Chesapeake Energy, Buy Primo Water.

Sell CHK. It is in a clear downtrend and decisively rejected at falling resistance. New lows seem inevitable.

Buy PRMW, which keeps punching $9.50 resistance level. A few more punches should break it out and send it higher. Primo sells purified water. They have dispensers at thousands of grocery stores, where customers fill up 5 gallon jugs of water, or regular gallon containers. The local K-12 schools near me have discovered an alarmingly high level of lead in their water (old infrastructure/pipes).  That is no surprise, I've seen the Primo Water dispenser busier than usual on past few trips to grocery store due to the lead scare. This is happening (on a much, much worse scale) in Flint, Michigan.