Breaking news, today is Saturday, February 28, 2006, and today the U.S. and Israel have launched

a major assault on Iran. This assault is called Operation Epic Fury, and it's taken place in

the Straits of Hormuz. Global oil prices have already started to increase just because of the

perception. It's still too early to figure out what's really going on. My sources tell me that the U.S. has now commanded airspace superiority over

Iran, and Iran, I'm sure, understands that it cannot fight a prolonged air war with the U.S.

I don't think we have boots on the ground. However, it is just way too early to tell.

About 20% of all the global oil that's moved in the world goes through this straight.

So expect when the market opens on Monday for prices to really spike whether this has been contained or not.

But the other thing is a lot of global commodities have moved through that straight.

A lot of green, soybean, wheat. And then the bigger thing for the world is fertilizer, is ammonia. So this straight, which is located between Amman and Iran, is a very narrow

waterway and it's a constraint. And whoever controls this straight controls global oil transportation.

Like I said, it's also a choke point for fertilizer and grain and other stuff. People, it's way too early to tell what's going on.

We just wanted to make you aware for all our service members that are out there serving right now.

Let's hope you stay safe.

And for all my devil dog men and women that are out there, stay frosty, be safe, but it's the right time.

Bring it.

Now back to the regularly scheduled oil and gas this week.

You're listening to the oil and gas this Week podcast with Mark LaCore and Paige Wilson.

This is the show for busy oil pros who quickly want to keep their finger on the pulse of the industry.

You're listening to Oil and Gas this week.

This is the show for busy oil pros who want to quickly keep their finger on the pulse of the industry.

Thanks for joining us for episode 397.

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