U.S. Warns Iran Over Oil Channel
KAYE: Welcome back. I promised you three simple things you can do this week to save money on your taxes. Get those donations to charities in the mail or go online to make a contribution today. Don't forget you can also clean out some clutter and take those items to a donation center, too. If you have the extra cash you might pay your January mortgage early so you can deduct that extra interest in 2011. Also if you have property tax bills due in January, you could pay that early and deduct this year. And you can stash some cash in a 520 college savings plan by the end of the year. For more tips on cutting your tax bill just go to Forbes.com. The U.S. is warning Iran not to disrupt a key oil shipping channel. The Obama administration describes Iran's threat to block the Strait of Hormuz as saber-rattling. An administration official says the U.S. will do what it must to keep the Strait open. Mideast experts say that's the right approach to take.</s>MATTHEW KROENIG, COUNCIL ON FOREIGN RELATIONS: Having the straits closed would be a disastrous for the global economy. I don't think any U.S. president could let that stand.</s>KAYE: Alison Kosik joins us from the New York Stock Exchange now. Alison, I bet a lot of people are watching this and saying, well, how could this threat from Iran affect oil prices and ultimately prices at the pump?</s>ALISON KOSIK, CNN CORRESPONDENT: Yes. I mean, if this did happen, that Iran did follow through on its threat, yes, you'd see gas prices go through the roof because you'd see oil prices go through the roof as well. But what's happening today is you're not seeing that concern play out in the markets. Oil trade not too worried about it right now. In fact oil prices are down slightly below $90 a barrel. But I did speak with oil analyst Stephen Shore. He gave the what-if possibility. If Iran does carry through with this threat he says it would drive oil prices to unpredictable levels. In fact he went as far as to say that it would throw the global economy into a deep depression. He says because consumers in the end wouldn't be able to afford it. That would lead into economic activity. But once again, this is the worst-case scenario. He doesn't see that actually happening -- Randi.</s>KAYE: But when you look at this, though, I mean, if they're threatening -- if Iran is threatening to close the Strait, I mean wouldn't that actually damage Iran's economy as well? I mean don't they export oil?</s>KOSIK: Exactly. And Iran is a huge exporter of oil. In fact, Iran is the fourth biggest oil exporter. Closing the Strait would obviously hurt Iran in the end. And then you think about it, China is Iran's biggest customer and guess how Iran gets that oil to China? Through the Strait of Hormuz. So, yes, other exporters use the Strait as well. Saudi Arabia in particular. And Shore said no way would the Saudis just sit back while Iran threatens its bread and butter. So that's also why he's thinking that the Iranians will not carry through with their threats -- Randi.</s>KAYE: Alison Kosik, thank you very much. So there is a 4:00 p.m. deadline today to claim the Iowa hot lotto grand prize. Lottery officials are hoping that the winning ticket holder does come forward. So we want to know what would you do with $16.5 million since we know, of course, that you wouldn't let the ticket go unclaimed. You can post your thoughts on my Facebook page. That is Facebook.com/randikayeCNN. We'll have some of your comments later this hour. Checking stories our affiliates are covering across the country. A Marine who managed to avoid getting shot in Afghanistan and Iraq is shot three times in a robbery in south Florida. Karl Trenker actually took the bullets out with his own fingers. The good news he's doing OK now.</s>KARL TRENKER, U.S. MARINE CORPS: I go to Iraq and Afghanistan multiple times and I haven't been shot or blown up, and I'm here at home in Florida and here I am dragged away in an ambulance with gunshot wounds.</s>KAYE: And check out this crazy video out of Centennial, Colorado. This is not an accident. It's actually a guy going on a rampage trying to find cars just to run into. He totaled this woman's car and hit five others. He even tried to hit a few pedestrians. Luckily no one was hurt. The guy is now in jail on $50,000 bond. And the helmet cam captures a firefighter in frigid Fargo, North Dakota, suiting up to rescue a black lab. The dog had fallen into the Red River. Fire officials say the helmet cam will help train off-duty firefighters and give the public a better view of how chaotic emergency situations are. That is one lucky doggy. Want to fight the battle of the bulge? Well, when is the last time you spoke with your mother? A new study links obesity with how you bonded with mom as a kid. I'll talk to psychologist Jeff Gardere about it.