Pumpjack located south of Midland, TX (Photo credit: Wikipedia)
Last year’s “Arab Spring” toppled four Middle East governments and threatened thirteen more.
That regional uprising was partially inspired by the rising costs and falling supplies of food.
Modern agriculture has been described as the process of turning crude oil into food. The relationship between crude and food is seen in the petroleum-basis for fertilizer and for the gas and diesel fuels that power tractors in the field and trucks hauling produce to market.
Thus, the global price of crude oil will largely determine the global supply and price of food. Therefore, the price of crude will determine how many nations are destabilized, how many governments are overturned, how many people riot before they starve to death.
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