Suez crisis – 2012?

Ok, so before I start this, I just want to let any Egyptian members realise that I do not relish the thought of any future conflicts with their nation, that said, with the current political upheaval in the country, here is a possible scenario.

Mubarrak is forced out sometime in the next few weeks, and a fledgling democracy starts to grow. Before long, an Islamic extremist party comes to power.

So what are the security implications for the West, and other nations neighboring Egypt? What if, a year from now, Egypt were to close the Suez canal in response to a wider middle east crisis?

With the Egyptian military now lavishly equipped, would they be able to guarantee Egyptian sovereignty? What would it mean for procurement in Israel and other nations?

I honestly hope that nothing like this will ever happen, but what seemed to be democratic revolutions before have turned into extreme regimes.