The recent political conflicts in North Africa seem to have prompted the story, especially the ongoing protests in Egypt. If the conflicts continue and spread to the Middle East, commentators claim that possible regime changes in places lie Saudi Arabia could send oil prices soaring to very high levels.
This is interesting to me because Americans now seem willing to admit that economics is more important to US politics than political ideals of democracy and freedom. For a long time, America has supported non-democratic monarchies because American companies–especially the oil companies–have business interests there. Simply put, supporting big business is much more important to the US government than the ideals on which the country was supposedly founded.
“One more thing,” Burnett remarked. “If this spreads, the United States could take a huge hit because democracy in a place like Saudi Arabia, you’ve talked about who might come in power, what that means for oil prices. They’re going to go stratospheric.”
“There’s no doubt about it,’ MSNBC host Joe Scarborough said. “No doubt about it!”