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War and other funny business
On top of the daily horrors we are witnessing in Iraq and Lebanon, it is not funny when Saudi Arabia's normally guarded King Abdullah warns that, should peace moves fail, the Middle East could be engulfed in a 'conflict that would spare no one'. Nor does it bode well for the world economy when that highly informed and much-respected expert on the Middle East, Prince Hassan of Jordan, warns that the price of oil, which has already trebled during this decade to about $75 a barrel, could reach $200 if a solution isn't found to the present conflict.If the Middle East situation fulfils the worst fears of Prince Hassan, then our policy-makers may face the kind of challenges they thought had disappeared into history. And, by pure chance, the airwaves are now replete with anniversary references to the Suez crisis of 50 years ago - itself sparked off by concern about oil supplies.
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