What we saw with the revolutions in Libya, Tunisia, and Egypt this past spring caused a huge disruption in their oil production during the events. This was especially evident in Libya and, on a smaller scale Saudi Arabia. Libya does produce 1.8 million barrels of oil a day (ninth in the world). This is a small percentage of worlds oil production but it caused gas prices in the United States to jump as much as 60 cents in a matter of weeks. In a larger Arab revolution, you could imagine these effects magnified to disrupt gas prices on the global scale. Anything that required any shipping would become outrageously expensive and gasoline/oil would, in all likelihood, be almost unaffordable.
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