Last week, a former Saudi oil minister put an estimate on what big-time unrest in Saudi Arabia might mean to world oil prices:
"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?" [Sheikh Zaki] Yamani told Reuters on the sidelines of a conference of the Centre for Global Energy Studies (CGES) which he chairs.
Which got me thinking. What would be the fundamental price implication of "losing" all of Saudi Arabia's oil? What if unrest there totally shut down output for the foresable future? What kind of oil market Armageddon would result?