Ted Cruz: “A Naval blockade imposes $435 million a day in combined…”

“10 million reals. What do you think that's worth? I have no idea. What is that now? About 7 bucks. 10 million real. 7 bucks. The bottom line is this. A Naval blockade imposes $435 million a day in combined economic damage. Storage fills in 13 days, forcing well shut ins that cause permanent reservoir damage. The real enters terminal collapse. Iran's alternatives outside the strait can replace less than 10% of the Gulf through point.” (16:41–16:48)

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.