The following is the audio version of a video released at peak prosperity.com.

Visit peakprosperity.com to watch the video and to find other insightful content,

such as articles, discussion forums, and exclusive subscriber-only content.

For the world economy, for the United States economy, the damage that has been done in the Middle East through the Iran War,

hey, it's already happened and it's about to get a lot worse.

Hello, everyone. I am Dr. Chris Martinsen, founder of PeakProsperity.com, and creator of the Crash Course, which is both a viral video series and a best-selling book that connects the energy, economy, and the environment. I'm your information scout. I separate fact from fiction. Let's get started. Let's begin here. I'm claiming that the economic damage has already been done.

We're just waiting to see how bad it's going to be. So what do I mean by that? Well, even in Reuters at this

point, this article from May 6th, they are saying that the oil supply shock is set to worsen as

inventories fall further, even if the conflict ends. Here's the important point. Even if the conflict ends here's the important point even

if the conflict ends there's all this damage in the gulf which has led to a reduction in

energy and energy product output as well as other things things like helium aluminum

sulfur sulfur sulfuric acid etc each of those a crisis all on its own put them

together you've got a big mess.

Now, that mess is going to take a long time to unravel.

As they say here, in this Reuters report, oil inventories and emergency reserves are already

rapidly depleting.

It raises the risk of supply shortages, which is a fancy way of saying super expensive energy price spikes.

Executives all over the place.

We've got oil executives.

We've got analysts.

We've got major banks all warning the same thing that the full impact of the Strait of

Ramu's closure is not yet been felt.

...