Radio Spectrum More Valuable Than Oil?

Hm, now here's a thought:

Martin Sims, of the UK organisation Policy Tracker, asked the regulators and ministers in attendance to ponder if radio spectrum is as important for economic growth in the 21st century, as oil was in the 20th century.

Does that mean soon we'll have wars fought over wavelengths? And what are the implications for the open spectrum movement? (Via openspectrum.info.)