00:00We are in Europe, we have maybe six weeks or so of jet fuel left.
00:07If we are not able to open the Strait of Hormus, if the refining is as a result of
00:14start to work, I can tell you soon we will hear the news that some of the flights from
00:22city A to city B might be cancelled as a result of lack of jet fuel.
00:29So two big problems, first the high prices and second availability of the gas, the availability
00:40of the jet fuel, diesel and others.
00:48If the Hormus is not open until end of May, many countries, starting from the weaker economies,
00:59are going to face huge challenges, and this will go from the high inflation numbers to
01:07coming close to slow growth or even to recession in some cases.
01:14So this is the reason I very much hope that before the end of May, we see the Hormus
01:22that is opened.
01:23You were asking about positive sides when we are in the middle of a crisis that, as you
01:27said, is so historic.
01:29I mean, what is happening now is the largest energy crisis we have ever faced in the history.
01:41It is a huge amount of oil, which is vital for the global economy, vital for transportation,
01:50for cars, for jets and everything.
01:52We lost a huge amount of oil, natural gas, which is also very important for generating electricity
02:00for our industries and others.
02:04We lost a huge amount of natural gas.
02:06And on top of that, since the state of Hormus was key for the certain vital commodities,
02:17such as the fertilizers, very important for agriculture sector and the food, petrochemicals,
02:24helium, very important for semiconductors, they are all disrupted.
02:29You said that next month could be worse than this month.
02:32It feels terrible already.
02:34Are people looking at $5 gas, $6 gas?
02:36Are we looking at $150 a barrel, $200 a barrel?
02:40So some parts of the world are hit worse than the others.
02:47The front line is the Asian countries, because Asia, Japan, Korea, India, China, Pakistan,
02:56Bangladesh, Bangladesh, they were getting big chunk of their energy from this Middle East
03:02and from this Hormus Strait.
03:04So they will be at the forefront.
03:07Then it will come to Europe and the Americas.
03:11We will see the impact of it in two big ways.
03:17One is the higher petrol prices, higher gas prices, higher electricity prices.
03:24The second one is, if it continues like this, if we cannot find a solution, namely opening up of the
03:32Strait of Hormus,
03:34we may well see some of the products, petroleum products, may well be absent in the markets.
03:42So let's wait for the results.
03:42But this has come to the right now.
03:42So there are a lot of different options and the называется of the Strait of Hormus,
03:42including these with the Strait of Hormus.
03:43So I think that that's a great idea.
03:43You could say that the Strait of Hormus,
03:43but for everyone, you could not have a good idea.
03:43So I think that the Strait of Hormus has a really bad idea.
03:43So let's just look at how the result of the Strait of Hormus is,
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