[laughs]

If you look at what happened in seventy-three and in seventy-nine, this is bigger than those two combined on the oil side.

And then if you think about gas markets, we tend to think of the twenty twenty-two crisis as over.

But if you think about Europe's gas situation, it's still twenty twenty-two.

That gas is lo... is, um, shut in.

It's not available to be used, and so it's still twenty twenty-two to gas markets.

And then we're taking a similar amount of natural gas out of world supply by cutting off Qatari LNG.

...for, for listeners who may not know them, that's one of the big independent, uh, exploration and production companies in the US, oil, big oil producer, particularly in the Permian Basin in West Texas.

How significant is that?

The US did indeed strike Kharg Island.

But in addition to being where Iran's oil export facilities are located, there are also some military facilities located on Kharg Island.

And the US was pretty precise in targeting the military facilities, but not the oil facilities.

Targeting those oil facilities would be a tremendous escalation in the war against Iran.

It would take them out of the game for quite some time.

The problem with that is we're seeing all this tit for tat right now.

The Financial Times.

But we're talking, like, the really long term, 'cause oil and gas companies, they make their drilling plans years and years in advance.

They'll have the land that's producing now.

They'll have the next land they plan to drill.

They'll have some land that is prospective, that they're still figuring things out.

So it can be years between leasing land and drilling on it.

So great.

You know, think of it as, like, a gigantic underground tank.

They are, like, sort of mined-out caverns made of salt.