By Stephen A. Cheney
Oil is a global commodity--it is easy and cheap to ship it around the world. That means that the security of its distribution network is just as important as the security of its supply. This distribution network--including port terminals, huge oil supertankers, and lengthy pipelines--is vast and costly. It is also vulnerable to conflict, piracy and terrorism. About one fifth of America's oil imports come from the Persian Gulf, passing through the Strait of Hormuz as
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