The dispute over Iran's nuclear program has again rocked oil markets. And Iran is threatening to close the Strait of Hormuz, which is just 34 miles wide yet serves as the passageway for 20 percent of the world's oil.
This is not a new drama. In fact, it was a recurring issue in the 1980s. Still, there's been relatively little activity among Gulf oil producers to find alternative routes to get their oil to market.
Today marks a year since an uprising started in the Gulf Nation of Bahrain. And over the course of the year, we saw lots of protests, and we saw the Gulf Cooperation Council send troops into the country to quash the rebellion. We saw the monarchy dismantle the Pearl Roundabout, which had become symbolic of the uprising and later commission a report about what went wrong at the height of the protests last February.