Unstable oil economy must go

It is only a matter of time. Consider the possibility of waking to the news one morning that terrorists have blown up a supertanker carrying oil anywhere in the world and are threatening to sabotage more tankers. Then consider the panic that would set in – driving up the price of oil to heights we can’t even imagine, as suppliers take advantage of the crisis, and intensifying the competition for oil among major countries that depend on it, which increasingly means developing countries like China and India as well as advanced economies. We could quickly see not just an energy crisis, but also a military crisis.