Apr 06

UPDATE 2-Oil could hit $200-$300 on Saudi unrest-Yamani

* Political discontent in Saudi not resolved-Yamani

* “Surprises on the horizon” Yamani predicts

* Consultant says Saudi a “time bomb”, change inevitable

By Emma Farge

Oil prices could rocket to $200- $300 a barrel if the world’s top crude exporter Saudi Arabia is hit by serious political unrest, former Saudi oil minister Sheikh Zaki Yamani told Reuters on Tuesday.

Yamani said he saw no immediate sign of further trouble following protests last month calling for political reforms but said that underlying discontent remained unresolved.

“If something happens in Saudi Arabia it will go to $200 to $300. I don’t expect this for the time being, but who would have expected Tunisia?” Yamani told Reuters on the sidelines of a conference of the Centre for Global Energy Studies (CGES) which he chairs.

“The political events that took place are there and we don’t expect them to finish. I think there are some surprises on the horizon,” he said in a speech.

[more at uk.reuters.com…]

Bill Bard…

When the Shi’ite pop get some balls, things might change.

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