posted on Mar, 8 2011 @ 09:28 AM
Saudi Arabia produced 9.71 million barrels a day in 2009, one-third of OPEC output and almost six times as much as Libya, according to BP Plc’s
Statistical Review of World Energy. Websites have called for a nationwide “Day of Rage” on March 11 and March 20, Human Rights Watch said Feb 28.
Protests in five of the kingdom’s eight immediate neighbors have prompted King Abdullah to boost spending on housing, social welfare and education
to curb unrest in his country.
“The price of oil is going to go up, whether you like it to or don’t,” said Juerg Kiener, chief investment officer at Swiss Asia Capital Ltd. in
Singapore. “If Saudi Arabia fails, then I say you have a fire in the house. They gave out $30 billion of money so maybe they’ll buy time. But I
don’t see the problems disappearing.”
(visit the link for the full news article)