Steadfast FinancesSaudi Arabia Revolution: Oil Back to 2007 Highs?

Saudi Arabia Revolution: Oil Back to 2007 Highs?

Filed in Commodities , Gas Prices 1 comments

If you think 2007 oil bubble highs of $147 per barrel based on “global demand” was bad, just imagine what’s going to happen to oil prices if the stalwart of Middle Eastern oil production stability — Saudi Arabia — falls into civil unrest (e.g. Egypt), or worse, outright civil war (e.g. Libya).

As we speak, Saudis are using Facebook to organize a revolution on March 20th, and appears they are preemptively hitting the streets to let the leadership know they mean business. Not surprisingly, I’ve seen zero video coverage of Saudis peacefully protesting from mainstream media.

I’m not trying to spook anyone or saying oil will be in the $150 range by summer (when U.S. demand is at it’s peak), or the Saudi Arabia monarchy is about to be Mubarak’ed, but I am saying if you’re the budget conscious type or you run a business where fuel is a cost of doing business, you might want to take global events like these into account when looking forward into 2011.

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Posted by CJ   @   4 March 2011 1 comments
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Mar 6, 2011
8:24 pm

Something is happening in Saudi right now. Twitter is down for anyone not part of the government and anonymous is putting a project together like Egypt. IRC is live and engineering is online again. Going to be a long night…Looks like the Saudi gov’t banning protests isn’t going over that well. See what this looks like in the morning.
Doubt it’ll be good though.

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