Gulf and regional monarchies must be yearning for the days when high oil prices were generally correlated to their citizen's state of contentment and happiness.
They look outside the window now and they can't believe oil was hovering at $90 a barrel for months, even before collective Arab anger spilled over the collective Arab streets.
Whatever the outcome of the widespread dissent against Arab rulers, one thing is for certain: Middle East governments can not go back to their old ways, and countries like Saudi Arabia can't paper over problems with stimulus packages (more of its $39-billion all-carrot package later).
No comments:
Post a Comment