Gaddafi goes Tiananmen - Pepe Escobar
►http://www.atimes.com/atimes/Middle_East/MB24Ak05.html
Next is the black gold angle. Investment strategists, such as Arjuna Mahendran from HSBC, are already worried about oil prices hitting “$120 a barrel in the next three months”. Correction; it could be next week, or by early March, as the price of Brent crude for April delivery was already at $106.81 this Tuesday in London. Nobuo Tanaka, the director of the International Energy Agency, has been more realistic; he said that if oil stays over $100 a barrel all along 2011, “we would have the same type of crisis as in 2008”; thus goodbye to global economic growth.
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Everything would still be rosy as long as the great 2011 Arab revolt does not hit Saudi Arabia. But that’s not a given. Every energy producer may crank down production and force prices to rise, but only Saudi Arabia may crank up production to make prices fall. So essentially, before buying their next sports utility vehicle, people should check on King Abdullah’s succession.