Photo: whatsthatpicture on flickr
On July 26, 1956, Gamal Abdel Nasser nationalized the Suez Canal. Three months later the combined forces of Britain, France and Israel invaded Egypt and forced him to reverse the decision.That’s just one indication of how important the 673-foot-wide waterway is to the western world.
Another is the seven dollar spike in crude prices over the weekend based on mere speculation that the Egyptian riots could disrupt shipping.
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