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Oil, War, and Global Power ft. Amos Hochstein | Shane Smith Has Questions
The Strait of Hormuz is effectively closed, and energy expert Amos Hochstein is calling this the single greatest energy crisis in global history bigger than the 1973 OPEC embargo. With roughly 10 million barrels of oil per day missing from global markets, prices have surged from $60 to nearly $100 a barrel, gas is climbing toward $4 a gallon, and major producers like Kuwait, Iraq, and Qatar have already slashed production. According to Hochstein, if the Strait remains closed for just 10 more days, the economic damage could become permanent and very difficult to reverse. The ripple effects are…
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