From Asia Times (link):
In an era when the “Great Game”, “Pipelineistan” and “peak oil” have become the stuff of dinner-table conversations the world over, it has become commonplace to analyze the power games and high-stakes geopolitical maneuvering that surround the acquisition of oil supplies.
But take a closer look. Oil is not the only industrial commodity vital to nations’ wealth and power, nor is it the only one that has seen a dizzying price spike lately. The market for iron ore – needed to make steel, the most important industrial metal – has over the past few years been through one of the most spectacular run-ups in its history.
