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IPFS News Link • Energy

Wars, Rumors Of Wars, Skyrocketing Oil Prices And Global Economic Chaos

But Libya is far from the only crisis point in the Middle East. In fact, a much larger problem may be brewing in Saudi Arabia. On Facebook, a "Day of Rage" is being hyped for March 11th. Other dates being promoted for "revolution" in Saudi Arabia include March 20th and March 21st. But if Saudi Arabia sees the same kind of chaos that we have seen in other countries in the Middle East there is no telling how high the price of oil could go. Could we see $125 oil? Could we see $150 oil? Could we see $200 oil? Saudi Arabia exports more oil than anyone else in the world, so if their oil production gets interrupted it is going to have a dramatic impact on the global economy. For example, are you ready to pay 5 dollars for a gallon of gasoline in the United States?