You articulated some of the threats. You mentioned cyber, and that is one domain that has not been developed, either from a policy standpoint or an understanding of what that actually means. When you think that the New York Stock Exchange can fluctuate in value close to 7% in one day, based on strictly automated trading algorithms, with no human intervention, what does an attack on that do? When the national electrical grid and its switching is totally controlled by computer systems, what happens to those when they're attacked? Those cross-border...they're not limited to one particular country.
From an economic standpoint, one can foresee disruption to the oil supply, for whatever reason. Then question the ripple effect of what occurs. Jeff Rubin has talked about it from one aspect of the long-term effect of triple-digit oil, but what happens if oil automatically spikes because of something that destabilizes the global commons? Is there a collective responsibility to ensure the freedom of the global commons, wherever it may lie?
So $150, $160, $170 oil is going to push countries like Greece and Spain and Italy, or even companies in our country, over the brink. I recall Air Canada's recent quarterly reports. It announced a loss for the first time in several years, driven by fluctuations in the fuel price. How many companies in Canada now become affected because an action or event crosses the global commons and affects shipment and trade and so forth?
Absolutely, there are a host of threats much better addressed collectively than by individual nations.
I hope that answers your question.