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Losing 1.6 mbbl/day is serious. However, what if Facebook really has brought about a fundamental change in the ME. All these old dictators falling or about to fall. The Saud family made the deal back in the 1940s to produce their oil. The population of KSA was 3.5 million at that time. Now is is over 30 million. Populations in all the ME countries have exploded since oil allowed it. Now the young are finished with the kings building expansive palaces while they struggle.

So what comes next? If these old relics are kicked out, what kind of oil production agreements will be put in place? Not just 1.6 million barrels are at stake. The global oil paradigm may be changing, quickly.

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