00:00Did you know our gas prices are up because millions of barrels of oil are stuck behind
00:05a de facto blockade of the Strait of Hormuz?
00:07This isn't the first time gas prices have spiked because of geopolitical tension.
00:11It also happened in 1979 after the Iranian revolution, during China's industrial rise
00:16in the 2000s, and most recently in 2022 when Russia invaded Ukraine.
00:21Wars, revolutions, hurricanes, new technologies, or general changes in the geopolitical landscape,
00:27all of it impacts gas prices.
00:30When we adjust for inflation, the $4 we're paying for gas today is a lot lower than periods
00:36in recent history.
00:37The all-time high is over $6.
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