Earlier this month, I warned that the Egyptian revolution would have broader implications far beyond Egypt’s borders.
I said the most dangerous consequence of this revolt would be the spread of this revolution to other Arab countries like Saudi Arabia, who are responsible for providing the world with spare oil capacity.
All is quiet now, but public comments by members of the Saudi royal family indicate that they are growing increasingly nervous about events transpiring right on their doorstep in Bahrain, Yemen, and Jordan.
On Wednesday Prince Nayef bin Abdel Aziz said Saudi Arabia is “‘immune’ to the protests because it is guided by religious law that its citizens will not question.“
This argument is not a very compelling one. Nor is it comforting. Prince Nayef presumes to tell us that the people of Saudi Arabia are so radical that they will endure food deprivation, repression, corruption, and lack of economic opportunity because of their belief in Islam.
If this is the case, Americans should be afraid because the Saudi Arabian people are even more radical than we feared.
Either way, Saudi protesters have called for demonstrations in all major Saudi cities on March 11.
It’s time to buy oil futures…