Skip to comments.If the Saudis revolt, the world’s in trouble. Fate of global recovery rests on events in Riyadh
Posted on 02/26/2011 7:53:54 AM PST by SeekAndFind
Be careful what you wish for. After an ambiguous start, Western leaders have broadly welcomed the wave of protest and revolutions sweeping North Africa and parts of the Middle East. But beneath the words of encouragement about people taking charge of their own destiny, there is a growing and vital concern the security of our oil and gas supplies.
The Wests complicity in supporting the autocratic regimes that characterise many of the big oil-exporting nations is in part explained by the fact that, whatever their sins, they did at least seem to provide stability in the energy markets. That stability, however, has been thrown up in the air by the wave of protest sweeping the region.
Initially, it was assumed that there was a difference between oil-poor Arab nations such as Tunisia and Egypt, where the uprisings have been as much about living standards as anything else, and the much richer Gulf states. That theory was swiftly proved wrong.
In Saudi Arabia, even King Abdullahs panicky decision to order another multi-billion-dollar splurge of spending on education, healthcare and infrastructure may not be enough to buy off the opposition. People seem to want something more precious than money: freedom.
Whatever happens, speculation about the possibility of major interruptions in supply has sent the already perky oil price bounding higher. At one point yesterday, Brent crude hit $120 a barrel, which in real terms is approaching the sort of peaks we saw in the 1970s.
(Excerpt) Read more at telegraph.co.uk ...
I am putting out a call here for any “foreign-oil busting stocks” to invest in. Anyone know of any?
The way I see it God wants us to have that oil. Why else would he put those nasty Arabs on top of it?
Once the rulers are taken out we could go in there and secure the oil.
They owe us for 9/11, we should take the opportunity to collect.
The Saudis probably aren’t under much pressure from the Muslim right-wing since they already support and enforce a rather stringent form of Islam in Saudi Arabia.
The religious police are omnipresent and oppressive to any modern Western notions like women’s rights or opposition to Sharia law.
So the only revolution I can see would be one by liberal Islam against the old regime which would be a counter trend to the Muslim Brotherhood and its ilk.
“words of encouragement about people taking charge of their own destiny”
Well, if people truly took charge of their own destiny we would save so much money by no longer needing all the “public assistance” organizations. America can recover from any “world crisis” but only if the government keeps their damn hands off and lets it happen. FDR prolonged the depression and obama is prolonging the stagnation we have today. DEregulation is part of the medicine we need along with personal responsibility. Each is responsible for their situation in life. I’ve never put anyone in the position to need help. Lower taxes mean people have more money to give to charities and they do. PRIVATIZE MOST OF THE FED!
The Saudis are buying low income housing, that means subsidized malcontents by the thousands if not millions.
The Saudis would probably be replaced with the Bin Laden family... if you thought the Wahabis were extreme, wait until the Salafists take over.
Really? Muslims want something more precious than money: freedom.
Those Saudi Arabian 911 hijackers had both.
Those Saudi Arabian volunteer suicide bombers who came into Iraq by the hundreds to kill our troops, had both.
Us Infidels have to get our own fuel, and stop sending money to the Saudis to finance our own destruction.- tom
The religious police are omnipresent and oppressive to any modern Western notions like womens rights or opposition to Sharia law.
Your view is erroneous, but typical of those who view 'the Magic Kingdom' strictly from the outside. One would have to have spent some time actually living in the country to have a truer perspective.
The first error is that there is no, or minimal pressure from 'the right wing' within the kingdom. Simply not true. The House of Saud, has tried to build on some of the reforms undertaken in 1964. They were, and still are, blocked at every turn by the other 'power bloc' within the kingdom, the one the average westerner doesn't even know about, the Wahabbi clerical council.
It is they, not the House of Saud, which control those omnipresent religious police you speak of, and not the royal family. Further, there is a great deal of money, perhaps the equal of oil revenues, at stake. What is the source of this loot? Pilgrimage generated loot. The House of Saud was named 'Defenders of the Holy Places' which means that all the fee and whatnot generated by 'the Hajj' accrues to them. The Wahabbi clerics get a cut of this, but want it all. They have been maneuvering for a long time to be named 'Defenders of the Holy Places' themselves, cutting out the House of Saud.
So, as you can see, the House of Saud has been under a constant siege of attrition from their right for quite some time now, and any automatic assignation of the current state of unrest to 'liberal' forces may well be in gross error...
Their Day of Rage is planned to start 3/11.
Maybe they want an elected government like Iraq now has
“Their Day of Rage is planned to start 3/11.”
Fill up your tank and as many gas cans as you can safely store. The worst that can happen is you’ll be able to skip a visit to the gas station.
Yes, the first Saud in power made a deal with the Wahhabists to rule.
Best post I’ve seen in a very long time!
Pity the Saudis can’t just exterminate the clerics.
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