Travis Hoium

But let's start with the near-term impact, because I think that's probably the easiest, Lou, to get our heads around

As we look at, in particular, energy, about 20% of the world's oil flows through the Strait of Hormuz.

That's getting a lot of the attention in the market.

Qatar's LNG assets have been hit.

They say that that could take years to actually bring back online.

When you look at over the next one to three months, let's say, what are you looking at in energy markets, in the market overall, in the economy?

Where is your head going to sort of try to process this?

John, it seems like there's some band-aids that we can put on this.

We talked about releasing some of the oil in the U.S.

oil reserve.

In the past, you would see a country like Saudi Arabia say, hey, you know what?

We'll step up.

We'll provide a little bit more oil.

It seems like there's a little less slack there for them to be able to do that.

So how do you think about that supply chain?

Because that's where things – we learned during COVID.

Things get really complicated really quickly.

Gasoline is typically oil.

Let's bring a little bit of historical context into this.

And I want to wrap the economy in as well.