Bob Pittman

Supply-wise, what are we talking about

Are all the shortage conversations, jet fuel, et cetera, is that back on now?

Is that still a reality?

Like, what's that going to start to look like?

It's normally still on.

It never changed, right?

I think that's the issue is that right now, so again, just for context, roughly of the 20 million barrels a day of previously, kind of previous flow that was traveling through our humus every day, roughly 7 million barrels of that has been offset by rerouting.

The Saudi East-West pipeline, kind of Iran's flow continuing, et cetera, et cetera.

But,

That means 13 million barrels can't exit the Gulf and has been forcibly shut in.

That's the barrels that we're losing kind of every single day.

And right now, you know, thus far in the crisis, we've lost roughly more than 400 million barrels, barrels that were going to be produced this year that now just aren't.

The longer this goes on, you know, you quickly approach a billion barrels, particularly with the necessary ramp back up.

So, yeah, this is going to continue.

You know, the longer this goes on, you're going to need to fill that hole because 13 million barrels a day.

Now, 15, actually, if you block Iranian flow, because that was one of the offsets previously.

So 15 million barrels a day.

There's no supply source in the world that can fill that.

So if the straight remains closed, if this is, again, a month or two more of what we're talking about, you're going to need to see prices skyrocket again.

in order to forcibly destroy demand.