Dislike $100/barrel oil prices? Imagine what oil will cost if the Saudi royal family is overthrown by revolution.NPR had a story this morning about the travails of the average Saudi citizen suffering from low income and runaway inflation. The Saudi royal family and a few fortunate friends are the only people in Saudi Arabia benefiting from the high price of oil. While the oil wealth flows into the monarchy, little filters down to the people. In a country awash in fortunes, the common citizen in Saudi Arabia is struggling to afford rice and milk.
Like a certain 18th century French monarchy, King Abdullah doesn't give a rat's ass for his people. The common citizen is like sand beneath the king's feet. Saudi Arabia is a nation where the children go to bed hungry so its princes can buy flying palaces. There are rumbling of discontent in the country on the Internet and in text messages; the quiet rage that can lead to an explosion. It should be remembered that Saudi Arabia is the birthplace of Al Qaeda.
What will be the effect on the United States if there is revolution in Saudi Arabia? Just add a zero to the price of oil - $1,000/barrel.
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