Outside of this short list of states, the picture darkens in every conceivable way. Without the supply redundancy and variety that has dominated the post-1945 world, any single shipment interruption spells immediate price explosions. Even worse, many of the world’s oil suppliers are not in what I’d call particularly stable areas.* Should a field become damaged—either by militancy, war, incompetency, or lack of maintenance—it doesn’t simply go offline, it goes offline for years.
