Prediction evidence

Dave says the Strait of Hormuz won't matter within 10 years "The truth is oil can be produced dramatically cheaper than it is today, but it can't be delivered, and that is creating all these supply bottlenecks" "It's also true, as Mike has pointed out many times, that these sorts of supply bottlenecks always get resolved one way or another. Markets do have a pretty good way of doing that" "There's all sorts of things going on in the Middle East to take the Persian Gulf and the Strait of Hormuz from a position of importance to a position of, okay it matters, to okay whatever, we can just route around it. Within 10 years it will not matter" "I'm very happy making that prediction, saying that the Strait of Hormuz could literally be blocked completely and it won't matter"