00:00Crude markets are very well supplied. There are hundreds of millions of barrels on the water away from the Gulf.
00:11But more importantly, we have a series of announcements that we're going to be making.
00:17U.S. government is going to step in and when it is appropriate and should it be needed, the U
00:22.S. Navy will provide safe passage through the straits.
00:25That's likely sometime this week. And again, that's under something called Section 122.
00:32And that's 150-day authority. And during that time, during the 150 days, we will see studies from U.S.
00:42TR on Section 301 tariffs, from Commerce on Section 232.
00:47And it's my strong belief that the tariff rates will be back to their old rate within five months.
00:58And those are very fulsome authorities. They have survived more than 4,000 legal challenges.
01:05They are more slow moving, but they are more robust.
01:10And they are more robust.
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