Ed Elson

And now they're going to charge people for moving goods through it.

So I guess the question is, one, do you think that that holds?

And two, how significant is it from an inflation perspective?

Because it seems like that is, yes, ships can pass through, but now there's a toll.

And it's quite significant.

And perhaps that will increase prices on oil or maybe on gas down the line even more.

What do you think?

Yeah, how does that play out, those long-term consequences?

Because I feel like we're so focused on direct effects right now, because we're talking about guns and missiles and nuclear bombs, and it seems almost ridiculous to try to

map out what are the second order effects going to be of dropping a nuclear bomb or not.

It's like, whatever, you dropped a bomb.

But what are some of those second order effects here?

I mean, how do you think that this ceasefire that was preceded by very, very scary threats and that may not really last, at least that seems to be the situation right now, how would that affect our economy further down the line?

So higher interest rates, higher gas prices long term, I assume, is the trajectory.

I mean, I guess one question is,

oil prices surged above 100, they were approaching 150, and now they're coming back down.

And your suggestion is that if things remain as they are, which is like, there's a little bit of a ceasefire, but bombs here and there, but the straight isn't completely closed, then maybe we'll hit 80.

I guess the question is, does the fact that oil was at

close to $150.

Does that trickle through down to gas prices in the long term in any way?