Amos Hochstein | Shane Smith Has Questions
Shane Smith talks with Amos Hochstein, the Former United States Assistant Secretary of State for Energy Resources, about the war in Iran and its ripple effects on the energy sector.
The Strait of Hormuz is effectively closed, and energy expert Amos Hochstein is calling this the single greatest energy crisis in global history bigger than the 1973 OPEC embargo. With roughly 10 million barrels of oil per day missing from global markets, prices have surged from $60 to nearly $100 a barrel, gas is climbing toward $4 a gallon, and major producers like Kuwait, Iraq, and Qatar have already slashed production. According to Hochstein, if the Strait remains closed for just 10 more days, the economic damage could become permanent and very difficult to reverse.
The ripple effects are already being felt everywhere. Food prices, shipping, airline tickets, and everyday goods are increasing. Meanwhile, Republican senators are privately warning the White House that if this continues, they risk losing both the House and the Senate. Hochstein breaks down the best case, worst case, and most likely scenario for how this war ends and what it means for everyday Americans already feeling the squeeze at the pump and the grocery store.
The conversation goes beyond oil- connecting the dots between energy, AI, and the new geopolitical battleground.
