Oil prices prop up dictators

Arab economies will reap about $250 billion in oil revenue this year, possibly the highest ever, he said.

Nowhere has the bonanza been greater than in the world’s biggest exporter, Saudi Arabia, whose ruling family has been grappling with rising unemployment and poverty, a year-long al-Qaida insurgency and tensions with its vital U.S. ally since the Sept. 11, 2001, attacks by mainly Saudi hijackers.

Economists estimate prices and production this year will push Saudi revenue over $100 billion for the first time and expect a record budget surplus of $30 billion to $40 billion.

Chron