The Strait of Hormuz is one of the world's most strategically important transportation corridors needed for the successful functioning of the current global petro-based economy... this is because approx. 80% of the Middle-east oil is transported through the Strait of Hormuz... which equals approx. 20% of global oil movement.

The smooth transportation of oil through the Strait of Hormuz is extremely vulnerable because the Strait shrinks to a very narrow approx. 2 mile wide section (see map below) that lies between Iran and Oman... with Iran having control over some of the shipping lanes.

If the Iranian Govt. desired, it could very quickly send oil to approx. $100 per barrel almost overnight by simply slowing the transport of oil through the Strait... Iran doesn't even need stop Tanker traffic in the Strait to rocket-up the price of oil, all Iran has to do is simply slow the Tanker traffic in the Strait.

Iran could even non-aggressively slow the flow of oil in the Strait, all Iran would have to do is something very simple and cheap, like; start boarding all Tanker traffic traveling through the Strait for safety inspections... the Iranian Govt. could very easily say they going to start boarding and inspecting every Tanker traveling through the Strait to search for possible UK Mercenaries or other Terrorists with bad intentions trying to slip into Iranian territory... just by Iran enacting a very simple inspection process on all Tanker traffic traveling through the Strait, I estimate that act alone would create devastating effects via oil delivery delays, lost time & increased costs, increased confusion, increased military tensions, and the extra-risk would almost instantly raise the price of oil to atleast somewhere between $75 - $100 per barrel... and Iran could easily do this without having to fire a single shot, and without having to look aggressive.

In my opinion, the world economy is currently extremely vulnerable to a global energy price shock that would be precipitated somehow via the Strait of Hormuz... and with 2 Oilmen occupying the #1 and #2 positions in the Whitehouse, I'd bet Dollars to Donuts that certain people in powerful positions within certain Govt's. and certain corporations will make sure Oil gets to approx. $100 a barrel well before the 2008 US Presidential election, irregardless of what's best for the global majority.