Mike Baker

Apparently, their risk tolerance is pretty low, even though they're well, they're in the military.

That's a really good point.

Well, the Japanese and Koreans benefit exponentially more from the strait and from an open strait than even the EU partners.

It is fascinating.

I think one of the really interesting developments we don't have time to talk about today, but I'd like to revisit it, is the idea that this has forced the Gulf partners.

The Saudis in Dakar already kind of worked this way with their east-west pipeline, petrol line, but it's forcing the other partners that have been relying so heavily on the strait to look at alternative supply chain solutions.

And I think that's really interesting because if they get to a point where they don't need the strait or their requirements for the strait are significantly reduced –

That's a real win, particularly, obviously, if the Iranian regime doesn't go anywhere, sticks around.

Sir, if you could stay, speaking of sticking around, how about that for a segue?

If you could stay right where you are, we'll be right back with more from Adam Montgomery here on the PDB Situation Report.

Don't go anywhere.

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