The 10 Worst Foreign Policy Predictions 2008

Foreign Policy lays them out. Highlights include The Economist praising Kenya's election and Jim Cramer shrieking on CNBC that Bear Stearns was not in trouble, don't be silly. A fun read.

Meanwhile, Daniel Drezner says that it's not a good thing for Adm. Dennis Blair's hopes to be Director of National Intelligence that he's #3 on this list:

“[In] reality the risks to maritime flows of oil are far smaller than is commonly assumed. First, tankers are much less vulnerable than conventional wisdom holds. Second, limited regional conflicts would be unlikely to seriously upset traffic, and terrorist attacks against shipping would have even less of an economic effect. Third, only a naval power of the United States’ strength could seriously disrupt oil shipments.” —Dennis Blair and Kenneth Lieberthal, Foreign Affairs, May/June 2007

On Nov. 15, 2008 a group of Somali pirates in inflatable rafts hijacked a Saudi oil tanker carrying 2 million barrels of crude in the Indian Ocean. The daring raid was part of a rash of attacks by Somali pirates, which have primarily occurred in the Gulf of Aden. Pirates operating in the waterway have hijacked more than 50 ships this year, up from only 13 in all of last year, according to the Piracy Reporting Center. The Gulf of Aden, where nearly 4 percent of the world’s oil demand passes every day, was not on the list of strategic “chokepoints” where oil shipments could potentially be disrupted that Blair and Lieberthal included in their essay, “Smooth Sailing: The World’s Shipping Lanes Are Safe.” Hopefully, Blair will show a bit more foresight if, as some expect, he is selected as Barack Obama’s director of national intelligence.