“Iranian oil, ironically, is still flowing through. We've tapped strategic reserves. We've eased sanctions on Russia and Iran. We can talk about whether that makes sense.”
Jason Bordoff
5:00The Strait of Hormuz — the choke point carrying 20% of global oil supply — is effectively closed, making this the largest energy supply disruption ever recorded, dwarfing the 1973 Arab oil embargo. Columbia energy expert Jason Bordoff explains why current oil prices around $100/barrel are a dangerous illusion: markets are pricing in a quick resolution, but physical reality will soon catch up, potentially requiring prices high enough to destroy 10 million barrels of daily demand and tip the global economy into recession. The crisis also exposes a staggering strategic contradiction — the U.S. is simultaneously bombing Iran and lifting sanctions on Iranian oil exports to keep pump prices manageable. Bordoff's framework for understanding how energy weaponization works, who gets hurt first (hint: it's not Americans), and why the global order's unraveling makes energy shocks the defining geopolitical risk of this era makes this essential listening for anyone trying to understand where the economy is headed.
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