Jason Calacanis

To the extent that the market really didn't believe it, oil would not have budged.

And if anything, it would have faded those comments and you probably would have seen oil stay at around 120 or even go slightly higher.

So the fact that there was this reflexive move I think is a belief by a lot of the sharps

that there is no path to a sustained conflict.

There's going to be a lot of chest bumping from the Iranians, obviously, because they need to save face and they will want to set up whoever comes next to have the most successful chance of governing.

So my perspective is that was a trial balloon.

I think it validated what everybody thought, which is that this is going to be a short run thing.

I agree with that.

The downstream impact is, I think, correct what Brad said, which is it could show up in some short-term price spikes.

But then on March 11th, you saw what Chris Wright did.

which is the president activated a whole bunch of member countries in the IEA.

And I think Chris released 172 million barrels.

I think there's a coordinated release of about 400 million barrels of petroleum.

That's going to dampen the effect of any price spike.

On top of that, I think the estimate is there's probably another billion or so more barrels that one could

release out of strategic stockpiles.

So I think that both of these two things together kind of paint a picture that probably the worst is behind us.

And I think now it's about finding the off ramp.

Man, you're really kitchen sinking it.

It's literally what I was thinking.