Well under_exposed, as for conserving...ah, why? There is already enough proven oil reserves in the Ar Rab al Khali (empty quarter) of Saudi Arabia, more than has been pumped from both Saudi and Kuwait combined, since the first oil was discovered there in 1938. Chevron & Texaco records are there for all to read.
Reasonable conservation, OK...but let's not get carried away. If Europe wants to have high(er) taxes on jet fuel, thats their business, but don't be surprised if the world...passes them by.