Hollywood pirates such as Jack Sparrow and Blackbeard are glorified characters among uncivilized peers, stealing from the rich and acquiring bounties of gold. While the adventures of these 19th century caricatures are entertaining, their 21st century descendants are a growing threat to a shipping industry responsible for nearly 80 percent of the world’s trade. Pirate [...] Oil’s Piracy Premium originally appeared in the Daily Reckoning . The Daily Reckoning now provides over half a million subscribers with literary economic perspective, global market analysis, and contrarian investment ideas.