Seventeen million barrels of crude oil -- about 35 percent of the world's
shipments -- pass through the Strait of Hormuz each day. Iran has threatened to
block the 21-mile-wide Strait if that country's oil exports are cut off in the
dispute over its nuclear program. Across the Strait from Iran sits the tiny
emirate of Fujairah. The possibility that ships could load and offload oil and
natural gas in Fujairah, avoiding the Strait, is transforming the emirate.
Here, some 130 high-rises are planned for Hilal City, a new development near