March 10, 2011
Like a domino effect, political and social uprisings are spreading across the Middle East like wildfire. Unfortunately, as the world’s hub for crude oil exports, this political upheaval has placed the world’s energy supply in jeopardy.
Egypt, Algeria, Tunisia, Bahrain, Libya and other countries are fighting for their rights, but oil and gas shipments are being interrupted, and energy speculators—fearful of what the future holds in the region—have caused the prices of oil in particular to shoot through the roof.
Luckily, Saudi Arabia has provided a buffer to the declining oil supplies, maintaining some consistency in their pipeline and tanker deliveries. But this may all come to an end Friday, as the rumblings of revolution are stirring within the Saudi kingdom.
Friday is to mark the “day of rage” in Saudi Arabia, where Saudi citizens are planning on hitting the streets to protest the royal Saudi family’s rule over the kingdom.
The Saudi government has officially banned any and all demonstrations in the kingdom for fear of such an uprising. Foreign Minister Prince Saud al-Faisal has sworn to “cut off any finger” raised against the royal family’s regime. The Saudi royal family believes that their warning of reprisals against their own citizens will make the planned Friday “day of rage” event a non-issue.
If the Saudi uprising does occur Friday, and oil pipelines and distribution networks are disrupted, oil prices will rise to $150 per barrel almost instantaneously, and $200 per barrel will shortly follow.
Well my friends, it seems like the world may never be the same. The system we have spent the last century building is crumbling all around us, and the petroleum-based economy is coming to an end as quickly as peak oil researchers have long been forewarning. What many people fail to grasp is that oil doesn’t just fuel your car, it’s used as fertilizer for most industrialized food crops, it’s used to transport that food around the globe, it generates much of the world’s electricity, and it is used to make the plastic that is present in most tangible goods produced these days. Get ready people, this Friday’s “day of rage” demonstrations in Saudi Arabia may define the fate of the world as we know it!
This article was posted: Thursday, March 10, 2011 at 5:29 am