Because of Dutch support of Israel, tanker traffic into Rotterdam, the world’s largest oil port, will be slashed 70% by the end of this month. The ban will be felt in the entire Common Market.

Like a great natural disaster, the oil drought caused by the Arabs’ cutback on production spread ominously through the industrial nations last week. Despite glaring signals of severe shortages ahead, leading consumer countries from Germany to Japan were in disarray. They often worked at cross purposes as each scrambled to…