David Robertson

Dubai is studying plans to build a $200 billion (£114 billion) mega-canal that would allow oil tankers to bypass the Strait of Hormuz. The Gulf emirate is understood to be considering the idea as a means of reducing Iran's influence on the flow of oil from the region.

About 17 million barrels of oil a day are transported through the strait, equivalent to 40 per cent of the world's traded oil.

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Posted by boyang at September 9, 2008 11:51 AM