The Heat: Middle East Conflict | Global oil supply disruptions
By CGTN America
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The United States is dismissing concerns that the Strait of Hormuz is going to be a problem. The strategic shipping lane off Iran’s coast has been effectively shuttered for two weeks now, roiling global energy and shipping markets. What will be the impact on the world economy? #Heat #Iran #Hormuz #oil #energycrisis #oilsupply #petrodollar Guests: Cornelia Meyer is an economist and oil and gas specialist, CEO of Meyer Resources. Yan Liang is Chair professor in Economics at Willamette University. John Quelch is Executive Vice Chancellor and American President at Duke Kunshan University. Gilson Schwartz is professor of economics at the University of Sao Paulo. 0:00 Strait of Hormuz closure and global oil crisis 0:32 Oil prices hit $120 - how bad can it get? 1:00 How governments are responding to the oil shock 2:16 Gas prices spike and what it means for American households 3:26 Oil expert: "400 million barrel release won't be enough" 5:13 Jet fuel shortages and oil infrastruc
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