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Hosts and clip highlight global oil shock risk, note China reliance on Hormuz traffic
Summary
Program discussion and a Fox News clip said much of Iran's oil revenue and a large share of tanker traffic are bound for Asia, with hosts warning of short-term global economic impacts if the strait is sealed.
During the broadcast Terry Martin played a clip and cited statistics about tanker flows, saying "Something like 63% or more of the Iranian money comes from them getting oil going through the Strait Of Hormuz." A Fox News excerpt that the hosts aired said roughly "80 percent or more" of tankers go to China and that much shipping is headed east.
The hosts warned of short-term global economic disruption from a U.S. seal or blockade of the strait but presented these effects as tolerable in pursuit of longer-term strategic aims. The program did not provide independent sourcing for the percentages cited.
