The Hormuz lesson: Why energy security is the new arms race

As the Cold War drew to a close in the 1990s, Francis Fukuyama famously declared it the ‘End of History’ — the definitive triumph of liberal democratic order over all ideological rivals. What he failed to anticipate was that the gravest challenges to that order would emerge not from competing ideologies, but from within its own ranks, and from a far more ancient battleground: The control of resources. Donald Trump — himself a product of that same liberal democracy — has pursued a foreign policy that has systematically strained the multilateral frameworks undermining the post-Cold War order. His administration’s actions…