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Absent a change in trader beliefs, the current oil price spike will be broken only by a recession that exhausts consumers' capacity to buffer higher prices, or when the slow process of substitution away from oil kicks in.
Similarly, loss of wetlands threatened New Orleans' levees, which were built on the assumption that they would have 40 to 50 miles of protective swamp as buffer between the city and the Gulf of Mexico.
In this way, the new Basel rules allow for requiring banks to maintain a so-called countercyclical buffer of extra capital.
America's armed forces are the buffer between the two Koreas, and between China and Japan.
Indeed, the US has acted as a buffer to insulate Israel-whose prime minister has boasted about its nuclear weapons-from any international scrutiny, while ignoring calls by Iran and other countries to create a Middle East nuclear-free zone.
This goal is not surprising: declining or not, Russia has always seen itself as a great power that should be surrounded by buffer states.
China recognizes that it no longer makes sense to stay with its current growth strategy - one that relies heavily on a combination of exports and a massive buffer of dollar-denominated foreign-exchange reserves.
Such contracts involve less investment in on-the-job training, as temporary workers offer a sort of buffer to employers.
President Barack Obama's popularity remains largely intact and acts as a kind of buffer against an uncontrolled explosion of anger.
The 1979 Egypt-Israel Peace Treaty mandated that Sinai be largely demilitarized in order to serve as a buffer zone between the two former enemies.
Chinese leaders may still view North Korea as a strategic buffer state, but China's status as a global power is pushing them to view the North in a new way.
The long-term costs of a worsening security confrontation with the US would exceed the short-term tactical benefits to be derived from continuing to support the North as a buffer state, especially given China's deepening relationship with South Korea.
Their objective was to create a military buffer between the PLO and Israeli forces that were then fighting in Beirut in order to promote the departure of both.
NEW YORK - Over the last two years, the majority of countries in the world chose to expand public spending in order to buffer the impact of the global financial crisis on their economies and populations.
The recently enacted 12th Five-Year Plan (2011-15) has all the right ingredients to produce the ultimate buffer between the dynamism of the East and the perils of a crisis-battered West.
Capital adequacy was a matter of judgment: examiners would figure out how large a buffer a bank ought to have, taking into account its specific risks.
The conventional wisdom is that China doesn't want to lose North Korea as a buffer between it and the US military in South Korea.
The Soviet Union also wanted to surround itself with a protective buffer of like-minded states, and Italy's Benito Mussolini was proud that for a time fascism was a competitive export.
Unlike other species, we seem to be endowed with willpower and intellect, hence we are capable of modifying the environment to buffer the effects of our decreasing fitness.
At the same time, it would buffer consumers from oil-price volatility, thereby stabilizing their energy spending.
At the same time, occupation denied Israel's army the advantage of a buffer - the demilitarized zones that were the key to the 1967 victory against both Egypt and Syria.
More importantly, China's previous leaders had calculated that a strong and unified ASEAN provided a valuable buffer against any possible US containment strategy.
As for Ukraine, the way forward is difficult to discern - not least because of the conflicting experiences of buffer states in the past.
Likewise, since 1967, Jordan has served as an informal buffer state between Israel and the rest of the Arab world.
We will continue to defy Putin and his efforts to reduce Ukraine to a semi-sovereign buffer state.
Surrounded by a forbidding wall, watchtowers, and deadly buffer zones, I entered with a hard-to-obtain visa at the Erez crossing - iron gates, an interrogation by bored young immigration officers and scanners.