William Lee, Chief Economist and Managing Director at Global Economic Advisors, joins Al Jazeera’s live from Los Angeles.
He says the US release of strategic reserves is largely a psychological move aimed at calming markets, because the actual volumes cannot offset the massive disruptions caused by the closure of the Strait of Hormuz.
He warns that the real threat lies not only in oil shortages but in helium and gas supplies essential for advanced semiconductor production.
Subscribe to our channel: http://bit.ly/AJSubscribe
Follow us on Twitter: https://twitter.com/AJEnglish
Find us on Facebook: https://www.facebook.com/aljazeera
Check our website: http://www.aljazeera.com/
Check out our Instagram page: https://www.instagram.com/aljazeeraenglish/
Download AJE Mobile App: https://aje.io/AJEMobile
#OilCrisis #StraitOfHormuz #GlobalMarkets #EnergySecurity #USReserves #Semiconductors #MiddleEastCrisis #AlJazeeraEnglish
