Detailed text transcripts for TV channel - KGO - 20111229:11:32:00
They're ready to step in if iran should make good on this threat. abc's cecelia vega explains what exactly is at stake. >> reporter: any attempt by iranians to shut down the strategic strait of hormuz could send oil and gas prices skyrocketing in this country. an astounding 20% of the world's oil travels through that vital waterway, just 20 miles wide and right in iran's backyard. their navy chief said on iranian tv closing the strait of hormuz will be easier than drinking a glass of water. if they follow through on the threat, experts predict higher prices at the pump. >> depending on how lon...
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