Kevin Hassett on the Strait of Hormuz and Gas Prices: ‘We’ve Got the Iranian Economy on the Ropes’

EXCERPT:

HASSETT: “Yeah. The fact is that the Navy has done an astonishing thing securing the Straits. And one metric of the how secure the Straits are is that the Iranian proxies have been attacking, you know, the Red Sea on the other side because they’ve sort of almost given up on attacking the Straits. And so, we’ve got the same amount of oil going through as we had before these actions except for Iranian oil, which isn’t going through at all. And so, we’ve got the Iranian economy on the ropes, and the oil has started to go through. And looking at the data, it really picked up a few weeks ago. And so, it should be, like, really almost immediate that we start to see it at the gas pump.”