Bloomberg reports today that Maplecroft consultants has ranked Saudi Arabia, Turkey, and Vietnam the riskiest of 15 major growth economies.
It is not just Iran that has oil prices on edge. News throughout the Middle East has been supporting the petroleum bid for some time now, and we are at the point of no return.
Saudi Arabia, home to more proven oil reserves than any other nation, has an energy problem.
The decline in the dollar and the credit downgrade of the United States is re-igniting a perennial argument in the Persian Gulf: Should the oil-rich Gulf states break their currencies’ fixed peg to the U.S. dollar?
With the Arab Spring continuing into a summer of discontent and armed insurrection, Saudi Arabia is looking for ways to improve living conditions for the country’s 27 million people.
In the long term, the world is going to have to live with higher oil prices as easy supply sources are depleted. The analysts at Truth & Beauty (…and Russian Finance) have seen this coming for awhile.
The headline flow has calmed down everywhere but Libya, but some analysts out there are seeing signs that things in the Middle East are getting worse and are revising oil forecasts upward.