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Ted Cruz: “Oil and gas account for 80% of government export earnings…”

Featuring: Ted Cruz, Republican | U.S. Senate, Texas

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Trump Tightens Grip on Strait of Hormuz Putting Enormous Pressure on Iran plus Qatar Hires DC Lob...

Published | Video Starts at 10:43

A combined economic damage of $435 million a day, or $13 billion a month. Wow. Over 90% of Iran's 109.7 billion in annual trade transits. The Persian Gulf. Oil and gas account for 80% of government export earnings and 23.7% of GDP [in Iran]. Kharg island alone generates 53 billion a year, or as I noted at a time 78 billion a year in energy revenue. Crude oil. (10:43–10:52)

CLAIM

Asserts that oil and gas account for 80% of Iran's government export earnings and 23.7% of GDP.

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PolitiQuote is a civic library index to statements made by politicians in publicly available video records. The index is created automatically from transcripts, with no editorial oversight or analysis. Highlighted quotes are selected by AI. Words may be added in parentheses to offer context for the quote. There may be errors in the transcription and display, so listen to the video to ensure accuracy.

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