Eric Bolling

These are traders.

And when I say traders, I don't mean speculators everyone loves to hate.

I'm talking about the people like the ConocoPhillips head trader that I spoke to who had similar assessment of the situation that the Chevron CEO who

came out yesterday saying so they're looking for higher prices going forward, which will pull up that 10, 11, 12 month oil price will pull it up higher as well.

Again, that's why I keep saying it matters how high it goes, how long it stays there, because it

People are smart enough to realize it takes time to ramp up production, to get deliveries flowing quickly, and to ramp up your own, let's call it counter high prices policy here in the United States.

I'm sure Trump will throw everything, including the kitchen sink at it.

That takes time.

Unfortunately, the worst fallout of all of this is Middle Eastern countries who frankly hate us, even though they pretend to be our allies, their coffers, their war coffers, their anti-West coffers are getting filled the longer we play this game.

And it really has become a game because you can get in, get out, make your deal, kind of strong deal going forward a lot quicker than we're doing it right now.

Well, indeed, and because we know that the Iranians will do whatever it takes to keep it going.

I mean, they're getting a war dividend based on what's happening so far.

We're seeing oil prices double, more than double now.

Of course, and like we said, Steve, these Middle Eastern countries who claim to be our friends, Saudi, Qatar, I mean, really, Qatar has been all over the board as far as terrorism and friendly to the United States, all over the board.

They're not.

They're not our friends.

They're interested in the...

They would love to see a $200 price tag for oil and any force majeures they can do and any online production that they can pull offline because of some sort of attack on infrastructure somewhere.

They'll do it and they'll be slow to pull it back up.

I'm not sure 100% halt is possible, but a 50% halt would drive prices to $300 a barrel, $10 a gallon of gasoline.