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60If the disruption lasts long enough, the consequences could be serious and widespread. According to former White House energy adviser Bob McNally, a prolonged closure of the Strait of Hormuz would almost certainly trigger a global recession.
“The world economy cannot grow without 20% of its energy supply, period,” says McNally.
“We are experiencing, just as a factual matter, the biggest energy disruption in history,” he adds. “We have to just hope and pray that it doesn’t go on for too much longer.”
@60minutes
