Tim Stewart

They're not going to explode.

But there's pressure issues both at the wellhead and in the storage capacity.

And so oil's got to go somewhere.

When it comes out, it's got to go somewhere.

And again, the Iranian storage is at maximum while they're trying to get their shadow fleets back in.

And the blockade shut those tankers that were already on the water from coming back in to reload.

And then you've got those that are stuck behind the blockade.

So I think when the president says they're going to explode, it's not a literal explosion.

Implosion would probably be a better term of art, in my opinion.

Yeah, this is a situation where the US is insulated, but not isolated from the global markets.

And the fact is that we are now the world's largest oil producer, but you're exactly right.

Crude is a global commodity and it's swapped back and forth.

Our refinery industry was based around imported crude, heavy sour crude from Venezuela or Saudi Arabia.

And I had to explain to people, look, my industry's

it is segmented.

You have the oil and gas production side, where we have sort of been generationally groundbreaking in our ability to produce new crude light sweet, like you say.

The refining industry is way behind where we are at.

And that's primarily because there has been a lack of investment driven by Wall Street and others who have been told for,

20 years that fossil fuel is not the future anymore.

And so being able to secure a billion dollar loan to upgrade refinery has been very difficult.