"Not having [commodities] is much more expensive than the storage cost, so that not paying that storage cost was actually a false saving." - Louis Gave [00:05:51]

"Drone warfare has completely changed warfare... look at the US Navy, the most powerful navy the world has ever seen bar none absolutely, but it can't get within 300 miles of the Hormuz…

"We've calculated about 15 million barrels per day of oil crude plus products LPG stranded... the amount of volume we're talking about on the supply loss for the Middle East is very similar to the amount of demand loss [during COVID]." - Host [00:00:32]

"The straight can't stay closed for a month because the world economy will not survive, but that…

"there are serious you know military academics which which exist and historians who would argue that we're already in World War III" - Michael Every [00:00:00]

"if you start from the premise that the market will solve all problems and resolves everything and that you don't need to take any political action at any point well you're not going to be…

"Iran obviously together with the Middle East around it is around 20% of global oil flows 30% of fertilizer flows key sulfur and and helium flows too and whoever can control that really has the whip hand..." - Michael Every [00:04:08]

"if it retreats from here now even if oil prices go down and everyone breathes a sigh of relief the US would have…

• "we've already seen around 8 and a half million barrels a day of production shut in on those producers already that's not... what's exports have been lost that's actual shut in the ground" - Rory Johnston [00:10:03]

• "if you turn them off everything kind of solidifies in the pipes and like that's not great so you want to be able to get these things…