Seems to me that a conglomerate of oil companies could have funded a canal and reduce this risk a long time ago. Just around this choke point in global logistics.
The Qataris wouldn’t even have to have direct influence if they more are likely to be long term friendly. I hadn’t heard this before, it would actually make a lot of sense and wouldn’t even really be a conspiracy theory just a theory (unless we consider anything multiple people in government do together to be a conspiracy).