International property rights - energy?

International property rights are not really enforceable; there is no UN army, for example. On the other hand, national law is enforceable: everything within a nation effectively belongs to it – even foreign owned property, which can be nationalised. Argentina refused to repay billions of dollars worth of loans to international lenders, and Bolivia nationalised resource extraction companies.

War between nations is still one way of seeking redress for such theft. And last month, 'Foreign Policy' published details of a handful of territorial disputes around the world. The reason for the hottest disputes is economic: the need for more resources.

But before war becomes too widespread, it is time that the rules of international ownership are rethought. An essential requirement for the energy market especially?