“China Has 21 Days” - Strait Of Hormuz Crisis THREATENS China’s Oil Lifeline

With everything that's taken place right now, with with Iran, Rob, the the four I believe, if I'm not mistaken, it is an interview that's taken Oh, by the way, this is a gas poll that you ran. Okay, let's talk about the poll first. How much have gas prices in your area increased? Can you go back to it, please? Uh none, 20%. So, that's a fifth. 25 to 50 cents, 49%. 50 cents to 75 cents, 18%. 75 cents plus, 13%, which is one out of six. Uh so, that Rob, what how much was gas prices for you when you filled it up this morning? >> Uh it's around 350 in my area, but it that's up from last weekend. Uh last Friday, it was about 270. From 270 to 350 with gas prices. What What is What is crude oil price right now, Tom? What is it looking like right now? >> I think West Texas Intermediate opened this morning at 72. Will you do that? Just WTI price. Oh. 87? >> Up up six bucks today. And Tom, what's the ideal price for oil? >> by the way, did you did you just hear Tom's reaction? >> No, no, did you Tom meant to say 82, not 72. Okay? All right, Tom, can I Is that okay for you to say? So, Tom meant to say 82, and it's 87. Okay? It's 87. Going up. Going up. >> today. So, Tom, if if this is six bucks today, and you're seeing, let's talk purely brass tax, how the individual's going to be impacted by this, whether you're like Adam, you don't drive and you take Ubers, or if you're somebody that drives and you pay for gas, if it's going to 87, how quickly is the speed of the market feeling the pain of gas prices? >> Well, the Straits of Hormuz are there, so every time there's a shortage, and a shortage creates prices to go up. Also, when demand goes up. And right now, there's more demand for the [clears throat] US oil because we're pumping and it's available. We've increased the output for Venezuela over the past 4 weeks 2x from when we took out Maduro. >> Yeah. So, 2x the oil is coming out of Venezuela. Remember, they would they sneak the oil out? It was like embargoed oil. Now, it's open oil. The pipes are open from the valley, and that's 2x. So, we're pumping and we have it available, but there's demand for it because the Straits of Hormuz have closed. Take a look at that. That chart is the Iraq war. Take a look at Pat. See the first jump there? Is is Yeah, is the Iran war. So, click on, if you would, uh can we go 5 years? 5 days? Just 5 days. All you need to do it. Okay, there you go. The war starts. It's 72. >> And Pat, take a look at that. It gently goes up. >> Yeah. And now, look what happens on March 5th. The war escalates. See there? March 5th, the war escalates. So, it it was it was it was hanging tough until the war started escalating, and now the Straits of Hormuz have been closed for a couple days, and that's putting pressure, you know, on China. So, this is demand related. The US is fine. We have plenty. We're not going to have shortages at the pump. But the demand for what we're pumping is up, so guess what? The price goes up. And Rob, do you mind going to 5 years? You can go to max. Cuz Rob Tom, correct me if I'm wrong, they want to keep the oil barrel of oil around 70 bucks. Is that sort of >> 65 plus 65. Yes, that's correct. 65 in the US, you make a profit, and you can afford to extract shale. >> Okay, so if you look at this, and Pat, you're the numbers guy, it basically fell below market average in 2020. Nobody was moving. Right? It went down to almost 20 bucks a barrel. They couldn't even get it away. But historically, if you're looking if you want to go back 10 years when Trump took office, uh oil was around 40 bucks. Is that right? Yep. Remember that? >> That And that was also the Saudi market manipulation trying to keep the price low to hurt um Alberta oil sands and North Dakota shale because those are alternative drills that were working. And then Tom, walk me through this. 2022, it spikes under Biden because we weren't pumping as much oil. And how does this affect American oil? >> what happened in the middle of 2022? We slowly opened after COVID, but what did Biden done trying to keep the price down? He emptied the SPR, the strategic petroleum reserve. And so, suddenly, the demand shoots way up. So, that's Biden's By the way, that's also Biden inflation. And just poor executive management from the Department of Energy. That didn't have to happen after COVID. >> So, Tom, walk me through this. Even though there's have been a major spike in the last 5 days with the Iran war, it pales in comparison to what happened a few years ago, right? The spike is that little tiny thing at the end. You can put the And you see, since Trump was elected, what's been happening? A gentle slide back to So, he gets a lot to go to November. November 24. There you go. Keep going. See? Yeah. The guy we should be asking is Vinnie, who's got a massive truck. Oh, let me explain something to you. People that are like, "Hey, come to Miami." I'm not coming to Miami. What do you mean people? You mean me? By the way, just so you know, here's what you need to know. Not Not last Friday, but when did war start? It's been what now? Today is 6 days. Last Friday, it was around 67, 70 dollars to now being at where it's at. So, you're talking, you know, 20 17 to 20 bucks up, which is direct impact. People are feeling it. And how much of that's going to translate here? Trump's going to have to control this. But if Strait of Hormuz, if nothing's leaving there, and China's sitting around knowing 80% of their oil they're relying there, Tom, how much longer can China sit around without coming out and saying, "Hey, we kind of need to protect ourselves with Iran because the oil we're relying on." How long can they go? China's going to need oil in in 21 days. I was reading that 21 days, they will start to feel it. It won't be catastrophic, but within 21 days, they're really going to start to feel it. So, I'd like to know this. Iran is closing the Strait of Hormuz. If we control the skies, which we do, >> just going to say that. >> and we and we have basically impacted a tremendous amount of their navy, what exactly is keeping the Strait of Hormuz? Because that's where their China's going to get their oil. Or are we on the backside willing to say, "Okay, I'm sorry, the strait's closed." And because that's going to put pressure on China. Yeah, if you look at this chart that Rob just pulled up, Iran and Venezuela export most of their crude oil to China. Okay? Share of Iran and Venezuela's crude oil export that go to China. Look at that. 87% of Iran. And 55% of Venezuela. >> Bingo. And if you control both of them now, and China no longer has control of Panama Canal because of what happened with Panama, CK Hutchison, yes. CK Hutchison Supreme Court. Pat Panama Supreme Court comes out and says, "No, we're not doing it. Listen, you don't have any more authority over this. These two ports are ours." If you think these guys, when they say they're playing, you know, chess and they're grandmasters, if you think that, you lock in Panama Canal first, so China can't play that as a weapon. You lock in Venezuela next, then you go after Iran. Now, China's sitting around saying, "Well, what what How can we create pain for US?" How can we create pain for US to do anything? Strategically, it's actually very interesting when you think about the sequencing of what's been done. Yeah. Well, we're coming into summer. Maybe they could embargo the knockoff Callaway drivers. Yeah. Well, It'd be the catastrophic for guys like you. >> Catastrophic. Tom, can I speculate on something? >> for it. So, the oil. Trump's been saying he's going to do two things. You know, we talked about the 20-point plan that he was going to do. Yep. The top of the list, he was going to shut down the oil the the border, and he's going to drill, baby, drill. Did he not say those two things? >> Yes. What if this were all a part of Trump's plan? Shut down the border, drill, baby, drill. Let's go through here. We just learned that China, which is our number one enemy. You want to say that? >> They get what percentage of their oil from Venezuela and Iran? The vast majority of it. Drill, baby, drill. Taking down China. Now, let's pan out a little bit. A year ago, when Syria was about to fall, Syria, Bashar al-Assad calls his boys. "Vladimir, what's up, man?" And he had to can't help you. A buddy of mine did a a great breakdown of this. Can't help him cuz he's embroiled in a war in Ukraine. Bingo. Hey, he calls up Iran. Iran can't do anything cuz they're fighting with Israel. So, everything leads back to China. So, Russia's embroiled in a war with Ukraine. We're funding that. Uh Iran is tied up with Israel. Israel's knocking out all their proxies. Bing, bing, bing, bing, bing. Syria falls. Venezuela, when they fall, they say, "Hey guys, who's going to come help us out here?" Nobody. So, now who's helping Iran? Is China showing up? No. Is Russia showing up? No. So, could it be that Trump, when he said drill, baby, drill, this was all part of his plan to take out all these countries and basically say, "China, what's up with the tariffs now, buddy? All your oil, all your power, all your energy. You have a billion people that you need to keep the lights on, and you're going to be major struggling when I take out all your allies." So, could it be that Trump had this planned all along? >> [snorts] >> Could be. If if it is, Yeah. if if this is exactly how they thought about this, what a master plan. >> move. It's almost like he read your next five moves. What did he call it? He said Marco Rubio will end up being the greatest Secretary of State. of all time. Oh, yeah. >> said. So, Tom, what what what are we looking at here with the China imports? Well, thank you, Rob. China imported 5 million barrels a day through the Strait of Hormuz last year. Damn. Yeah. And it tells you from where. 1.2 from Iraq, 395 Kuwait, 106 Qatar, 666 UAE. That's They should have done 667. 703 Oman, 1.5 million Saudi, and 1.4 million in Yeah, and so, never mind the numbers. Iran is only 1.4 that, but the highway's closed. Exactly. Gank, uh you guys heard, I think there's a massive leadership uh taking place at the Trump Doral. Trump even yesterday said, "Hey, go to Trump Doral. Go to Trump Doral." And guess what? We're holding our annual sales leadership summit that we do once a year at the Trump Doral, March 25th through the 27th. If you're somebody that runs a business a million dollars or higher and you got five sales people, this may be the right event for you. You want to watch this video. Go ahead, Rob. There are three different types of sales leaders I've worked with the last 20 years. One of them are those that are boss, that are telling you what to do. One of them is the one that wants to be your friend. He wants to say, "Hey, Johnny, let me help you get to this next level." And then the other one is the leader, the leader that's sitting down with you, accountable, challenge, pushing you, you can do more, expectation, business planning. Each one of them has pros and blind spots. Once a year I host an event called the sales leadership summit. This year we're doing it at the beautiful Trump Doral, March 25th through the 27th, where we talk about topics like this, 200 plus pages in a manual where people from around the world, you have to do minimum of a million dollars a year and five sales people to qualify to attend this. So, if you're someone that's watching and saying, "I think I'm like a boss. I think I'm like a friend. I think I'm a leader. I want to find my blind spots." 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Gas prices surge as oil jumps to $87 following the Iran conflict and the closure of the Strait of Hormuz. The PBD Podcast panel breaks down what rising crude means for Americans at the pump, China’s oil dependence, and whether Trump’s “drill baby drill” strategy reshapes global energy power. ------ ▶️ WATCH FULL SHOW: https://www.youtube.com/watch?v=QsGF1afoX8Y ♟️ SALES LEADERSHIP SUMMIT 2026: https://bit.ly/45Evtj4 Ⓜ️ CONNECT ON MINNECT: ⁠⁠https://bit.ly/4kSVkso Ⓜ️ PBD PODCAST CIRCLES: https://bit.ly/4mAWQAP 👔 BET-DAVID CONSULTING: https://bit.ly/4lzQph2 🥃 BOARDROOM CIGAR LOUNGE: https://bit.ly/4pzLEXj 💬 TEXT US: Text “PODCAST” to 310-340-1132 to get the latest updates in real-time! SUBSCRIBE TO:  @VALUETAINMENT   @ValuetainmentComedy   @theunusualsuspectspodcast   @HerTakePod   @bizdocpodcast  ABOUT US: Patrick Bet-David is the founder and CEO of Valuetainment Media. He is the author of the #1 Wall Street Journal Bestseller “Your Next Five Moves” (Simon & Schuster) and a father of 2 boys and 2 girls. He currently resides in Ft. Lauderdale, Florida.