Daniel Yergin

Even though China has benefited from cheap oil from Iran, it's built up reserves.

But I think it sends a message that we don't do...

do things like this, but of course, we don't know what they're gonna do about Taiwan.

And I think Vladimir Putin is a big winner because the sanctions have been relieved on his oil.

He's replenishing his war chest with higher prices and attention is shifted away from the Ukraine war.

It's funny in a way, Ukraine has benefited from this because they're the country that knows how to fight against drones.

And they've showed up in the Gulf countries now and have done deals with them to help them in their defense against drones.

And so it turned out that, you know, Ukraine has some cards here to play.

At one point it was said it had no cards, but it's building coalitions.

kind of as a loser too, going back to what we said about the fight over NATO, that this has really accentuated it.

Iran's not really a winner because their economy is in such bad shape.

I guess we could say they're a tactical winner right now with their control over the most critical maritime choke point in the world, which has been recognized to be such for decades.

I mean...

The seizure of the Strait of Hormuz has been the nightmare scenario for decades, and now the nightmare has come into the daylight.

And what about America?

Well, we said that the American economy right now is being driven...

more than anything else by AI data centers and just this unprecedented level of investment that's unfolding far greater in just adjusting for inflation than any other infrastructure build in the history of the country.

So that's kind of balancing out.

But gasoline prices, what this is doing to farmers in terms of fertilizer prices, because, again, it's global markets, they're being felt.

But we'll truly only know who the real winners are when this is over.