00:00I wonder if you share that enthusiasm and confidence of the Treasury Secretary for lower
00:04gas prices in the months ahead. Well, good to be with you. You know, our base case is that we
00:10will
00:11avoid that worst case recession caps, the oil price spike. That's how it's been done in the
00:16past. But we're cautiously optimistic we will get to a better outcome, not right away, but we will
00:23have either a ceasefire in the coming weeks that allows a full resumption of Hormuz flows,
00:30or the U.S. military will get on with the job of degrading Iran's ability to interrupt shipping
00:36in the coming weeks. That may take a little longer. But I'm cautiously optimistic we maybe
00:42see the end of the oil price rally, hopefully before it has to come to recession. However,
00:48gas prices, that's another story. We have to see how things turn out this summer. I hope maybe by
00:54the end of the summer and have a three handle. But that would be that would be optimistic.
00:58Let's go.
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