The Globe and Mail reports in its Saturday, March 21, edition that the world is in economic turmoil as the closure of the Strait of Hormuz has pushed crude oil above $100 (U.S.) per barrel. The Globe's guest columnist Werner Antweiler writes that Alberta Premier Danielle Smith and others are pushing for new oil pipelines. Proponents of more oil infrastructure point to the fact that Canada, with its limited export capacity, cannot readily up its production to help oil-starved allies amid international strife. Proponents also point to nation building, energy security and export diversification in the wake of President Donald Trump's erratic tariff policies and international strife. What happens in Venezuela or Iran today is not what drives long-term investment decisions tomorrow. New energy infrastructure is built for decades, making short-term price hikes insufficient for billion-dollar investments. Today's spot oil prices are not reliable indicators for the future; instead, oil futures are key. Currently, futures at the Chicago Mercantile Exchange suggest traders expect oil to return to around $70 (U.S.) a barrel by mid-next year. Markets appear to view the Middle East conflict as limited in duration and scope.