S8 Ep1108: Russia's Energy Chokepoint and the Shifting Global Oil Map. Michael Bernstam. Ukrainian drone strikes on major Russian refineries have triggered a severe fuel crisis, forcing export bans on diesel and gasoline. Meanwhile, Gulf states are building massive
The John Batchelor Show
John Batchelor
4.5 • 2.8K Ratings
🗓️ 9 July 2026
⏱️ 12 minutes
🔗️ Recording | Apple Podcasts | RSS
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Summary
Russia's Energy Chokepoint and the Shifting Global Oil Map. Michael Bernstam. Ukrainian drone strikes on major Russian refineries have triggered a severe fuel crisis, forcing export bans on diesel and gasoline. Meanwhile, Gulf states are building massive pipelines to bypass the Strait of Hormuz. These developments are neutralizing Iran's "golden weapon" and shifting global oil transit maps away from traditional naval chokepoints. (9)
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| 0:25.6 | This is a high risk investment and you should not expect to be protected if something goes wrong. I'm John Batchler. |
| 0:47.4 | I'm joined by my good colleague Michael Bernstam of the Hoover Institution, |
| 0:51.4 | where we've been watching the sanctions regime upon Russia for its aggression in |
| 0:56.0 | Ukraine. No more. It's not sanctions. It's barrels of oil, either not being sold or being |
| 1:03.8 | reserved for the special occasion because of shortages or in future. What are we going to do about the Strait of Hormuz? |
| 1:13.7 | Michael's here to talk about the future. I want to mention the present right now. There's a language |
| 1:19.2 | that's invented in Iran to apply to what they're witnessing. They called the Strait of Hormuz the |
| 1:26.0 | golden weapon. They didn't know about it Hormuz the golden weapon. |
| 1:30.5 | They didn't know about it before, but they do now. |
| 1:38.3 | They fire into the Strait of Hormuz and hit a Qatari tanker, and then they hit a Saudi tanker. |
| 1:45.4 | That was the predicate for the President of the United States at the NATO meeting to say that the memo of understanding was no more that it was over the ceasefire and to open fire on Iran again. That has led to the |
| 1:52.9 | follow-on of price spikes and also the future has to be organized. Michael's here to talk about the future, not now, but the future. |
| 2:04.0 | Right now, it's the price of oil bouncing around. |
| 2:06.9 | Michael, a very good evening to you. |
| 2:08.7 | Let us begin with the price of oil as we understand it today. |
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