What is crude oil? Why is it critical to the economy?

Name: What is crude oil? Why is it critical to the economy?
Uploaded: 2026-03-14T23:38:39Z
Duration: 11 min 18 s
Description: Energy economist at the University of Houston Ed Hirs joins LiveNOW's Austin Westfall to break down the basics of crude oil -- what it is, what a 'barrel' is, why the Iran war is impacting global supply, and why prices at the gas pump continue to fluctuate.

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Energy economist at the University of Houston Ed Hirs joins LiveNOW's Austin Westfall to break down the basics of crude oil -- what it is, what a 'barrel' is, why the Iran war is impacting global supply, and why prices at the gas pump continue to fluctuate.