00:00I've been looking at some approval ratings, some opinion polls.
00:04According to a Reuters-Ipsos poll, President Trump's approval rating is around 36%.
00:08I think that's the lowest point of his second term.
00:11Do you think the war is the main factor there?
00:13I think so, and I think it's a near-term problem.
00:16And I think the president knew his ratings would go down,
00:19all the more reason that, you know, it was a brave move and a political...
00:24You know, there was some political capital spent to attack the regime.
00:29And so good for him for having the courage to do that,
00:32in spite of knowing that his poll numbers would go down and that gasoline prices would go up.
00:36But I think it's temporary.
00:38I mean, you're already seeing some easing on oil prices.
00:41They're down 5% or 6% from before the blockade of the strait.
00:45And I think that it's temporary.
00:47You saw $5 prices after the Ukraine invasion back in June of 22, for example.
00:52And they were back, you know, around $3 12 months later.
00:56You know, the average price in 2022 was $4.
01:00That's not because of the Russians invading Ukraine.
01:03That's because of Biden's hostility to the energy sector.
01:07So, you know, you do have a near-term challenge, a near-term headwind,
01:11with supply being limited coming out of the strait.
01:14But on the other hand, it's temporary.
01:16And there's been a real unleashing of the energy sector here in the U.S.
01:20And that's what's keeping prices low.
01:22And we'll continue to keep prices low once this conflict ends.
01:25And I think that's coming soon.
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