And that is where I completely agree with you.

It is the very heart of geopolitics and international tension.

The problem seems to be for many on this list just demonstrating that there IS an impending oil crisis. But imagine the geopolitics and POWER of nations like Venezuela when oil hits $150 per barrel in the next few years? Imagine if they decided they didn't want to play ball? Imagine certain other unstable oil exporting countries, and the riches that regimes will pull in? Now imagine an unstable and unhappy populace watching the regime grow fat from the profits of their environmental destruction? It's all happened before. It can happen again. Inter and intra-national conflict can quickly break out over oil.

Hey, I wonder if countries will have to leave OPEC as they decline? I mean, what's the use of belonging to a legion of Petroleum Exporting Countries if you actually become a net oil importer? ;-)

At national level conflicts over natural resources are already blooming-all Africa is a perfect example of. Iraq's internal Shiite-Sunni insurgency is the same process, because at the end of the day a n y local princeling to rely on foreign force only, on American one even the most. With all applauses to the Bushes’ bravery in fighting barbarianism (call it terrorism if wish), one could clearly understand then unifying outcome of Saddam’s oil-depending regime when local tribes were in a stable condition of mutual “under-table” armed quarrels.

That is what could happen to other oil-dollar-consumers if dependence on their oil to sharply ease.

Are resource-consumers prepared to responding this tide within own bouondaries?

But what happens if China decides to WALK down to the middle east? They don't even have a pond to cross.

Then there's always the Carter Doctrine which would make things really interesting.

"Let our position be absolutely clear: An attempt by any outside force to gain control of the Persian Gulf region will be regarded as an assault on the vital interests of the United States of America, and such an assault will be repelled by any means necessary, including military force. "

http://en.wikipedia.org/wiki/Carter_Doctrine

These self-confident Yankees!

Let them think they reign in Persian Gulf whilst loyal royal subjects, some with Australian kangaroos on passport jacket, know who is who in the Arab world in general and practically.

And China is already IN as Iranian discoveries were the middle eastern China's achievements-beg pardon, not sure whether Iran belongs to a region or this country is still Persia standing apart in region like sometimes once-upon-a-time already happened.