Markets have been roiled as the conflict between the United States and Iran effectively closed shipping through the Strait of Hormuz, where a fifth of the world's crude oil, as well as considerable liquefied natural gas supplies, travels through. Credit: Patrick T. Fallon/AFP via Getty Images Within just two weeks of the United States’ and Israel’s first strikes on Iran in late February, energy insecurity careened to an all-time high. And as long as there’s uncertainty over which ships get to travel through the Strait of Hormuz, the narrow waterway through which about a quarter of the world’s oil and gas supply passes, countries that depend on these fossil fuels (which, unfortunately, is nearly all of them) will be paying more for them on the global market.  The consequences are dire and far-reaching.…