Commodore Steve Jermy

speaker

516 appearances 1 recordings 1 series first heard Jul 2026 last heard 20 Jul

Commodore Steve Jermy’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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The Tucker Carlson Show · WAR UPDATE: Military Insider Gives Terrifying Prediction & Reveals How Unprepared America Truly Is · 20 Jul 2026 podcast

So I would be astonished if they don't understand this.

I know that the Chinese have been looking at their own energy situation for decades.

There's good evidence to say that in 2003, when the Americans with allies went into Iraq, that the Chinese thought that that was about oil, and they began increasing their own reserves.

so but but as for places like europe yeah we're incredibly vulnerable so is a lot of the far east um so i'm afraid to say on places like africa and as an open question about the united states as well the the trump line that the united states is a um

as an exporter of oil is true in as much as an exporter of refined products.

But when it comes to crude, it's an importer of crude in tune of about 6.5 million barrels per day.

And even if you've got access through, for example, Venezuela or Canada,

Oil is a fungible commodity.

So you may have access, but the prices of the oil are going to go up.

So I don't know what it's like over there in the States at the moment in terms of cost per barrel.

It's up here.

But if those costs were to increase significantly,

in the next two to three months, I would imagine that would not be the sort of run you'd want into the midterms.

And I would be surprised if they don't increase significantly.

And even if you open the Strait of Hormuz, I would be surprised if the lag in the system is such that you're still not suffering from the consequences of those well into the midterms and probably into the new year.

Yes, very, very.

I was just as surprised as you, and I think most of the analysts were, but I think a lot of it is to do with the lag.

It's also this distinction between the futures markets.

And the actual delivery, I was talking to a Singaporean colleague last month, and he said that, and I don't know whether this is still the case, that notwithstanding what Brent was at or what WTI was at, that in Singapore, they were buying crew for $200 a barrel.

so you know the difference is the difference is is the interesting one it's what what people are actually paying for it i mean there may be a short-term lag who knows but that's that's the open question the so-called crack spread between um you know what you're paying or what you're forecasting to pay in the futures markets and what you're actually paying on the day how does a country exist at 200 a barrel

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