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The World in Crisis

Source: Art Sadlier, Sunday February 20th 2011

The following news item is a severe warning to the world.

“If something like we have seen in Egypt or Libya happens in Saudi Arabia, we’re talking about a catastrophic scenario that will bring a global economic meltdown.” Gal Luft, the executive director of the Washington-based think tank the Institute for the Analysis of Global Security spoke to The Jerusalem Post on Wednesday during the fourth annual Eilat-Eilot Renewable Energy Conference, in a 45-minute conversation that described the petroleum tightrope on which the world’s economies are teetering. “The world needs to wake up to the fact that if a country like Saudi Arabia follows the same path we’ve seen in Egypt, Tunisia and Libya, it would be a very, very dangerous situation for every economy in the world – the rich and poor alike,” said Luft. “The first thing that will happen is, the poor people of the world will starve; there will be no oil to distribute food in places like Africa. Then all the world markets will collapse.” To make matters worse, Luft said, he didn’t believe that a hypothetical Western-led military intervention to secure Saudi Arabia’s oil fields would help matters. “Let’s say the US sends the military to take over Saudi Arabia. The oil fields in Saudi Arabia are in the eastern, mostly Shi’ite province next to Iran, so the Iranians will start an intifada there. They’d blow up the fields, they’d blow up the pipelines, they’d boobytrap everything there and you’ll see a situation like Iraq or Afghanistan, just in the world’s richest oil province,” he said.

The world situation is volatile. Unexpected events and scenarios can quickly develop. What is so unusual  now is that there are so many potential devastating situations developing at the same time. Everywhere we look we see catastrophic situations on the horizon. The signs of the times are sounding loud and clear.