Posted on 01/31/2011 2:51:18 PM PST by bruinbirdman
Risk analysts and intelligence agencies fear that Egypt's uprising may set off escalating protests in the tense Shia region of Saudi Arabia, home to the world's richest oilfields.
"Yemen, Sudan, Jordan and Syria all look vulnerable. However, the greatest risk in terms of both probability and severity is in Saudi Arabia," said a report by risk consultants Exclusive Analysis.
While markets have focused on possible disruption to the Suez Canal, conduit for 8pc of global shipping, it is unlikely that Egyptian leaders of any stripe would cut off an income stream worth $5bn (£3.1bn) a year to the Egyptian state.
"I don't think the Egyptians will ever dare to touch it," said Opec chief Abdalla El-Badri, adding that the separate Suez oil pipeline is "very well protected". The canal was blockaded after the Six Days War in 1967.
There has been less focus on the risk of instability spreading to Saudi Arabia's Eastern Province, headquarters of the Saudi oil giant Aramco. The region boasts the vast Safaniya, Shaybah and Ghawar oilfields. "This is potentially far more dangerous," said Faysal Itani, Mid-East strategist at Exclusive.
"The Shia are 10pc of the Saudi population. They are deeply aggrieved and marginalised, and sit on top of the kingdom's oil reserves. There have been frequent confrontations and street fights with the security forces that are very rarely reported in the media," he said.
The Saudi Shia last rose up in mass civil disobedience in the "Intifada" of 1979, inspired by the Khomeini revolution in Iran. Clashes led to 21 deaths. Mr Itani said it is unclear whether the Saudi military could cope with a serious outbreak of protest in the province.
Saudi King Abdullah is clearly alarmed by fast-moving events in Egypt and the Arab world. In a statement published by
(Excerpt) Read more at telegraph.co.uk ...
The nightmare scenario!!!
I hear a rumbling sound.
The other day I posted a story about protests starting up in Jeddah. They have a face book group just like the Egyptians. People said no way they are too rich there but I read about the income disparity in that region and how they are supposedly treated very poorly. Who knows they could garner outside support and that whole area could go.
Sarah Palin’s “Drill Baby Drill” campaign was such a silly concept...
Does the Left still have the Gulf in new well moratorium?
Congress needs to get on drilling here fast.
do the friggin RATS actually have to start FREEZING IN THE DARK before they will let us drill here???
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