The real reason behind the rise of oil-prices after Bhutto’s assassination

Few min­utes after Bhutto’s assas­si­na­tion, the media told us that oil-prices rose at least $1, although Pak­istan is not oil-producer coun­try, but the media didn’t explain why this rise, the near­est “con­vinc­ing” expla­na­tion was “Shock­wave” [from the CNN], but a small report appeared on the front page Elaph for about 15 min­utes and then removed [I was just in time to save it], explains it all.

The arti­cle says that the secu­rity and eco­nom­i­cal rela­tions between Pak­istan and the Gulf-states started with the so called “war on ter­ror”, but as far as I know, it is older than that, think about the case of BCCI bank which was used by CIA to finance Afghan’s Mujahdeen against the Soviet inva­sion, it was a Pak­istani bank in UAE.

Fears of polit­i­cal after­shocks in the Arab Gulf-states after the assas­si­na­tion of the oppo­si­tion leader in Pakistan.

Gulf states faced embar­rass­ment in deal­ing with the sit­u­a­tion in Pak­istan due to the rela­tions with all par­ties, namely the cur­rent gov­ern­ment led by Pres­i­dent Mushar­raf, who has com­plex secu­rity, eco­nomic rela­tion with some Gulf-states, and the oppo­si­tion lead­ers who were hosted and pro­vided shel­ter by both the Saudi King­dom and the United Arab Emirates.

A source said that the rise in oil prices after the assas­si­na­tion Bhutto is an evi­dence of the size of the secu­rity inter­de­pen­dence between the Gulf states and Pak­istan, since the start of the global war on terrorism.”

Accord­ing to the source the prob­lem faced by the Gulf states is the “wrong choice between sup­port­ing Musharraf’s Gov­ern­ment who seems weak against the accu­sa­tions of being behind the assas­si­na­tion of Bhutto, or towards the oppo­si­tion despite that they were unable to cope with the secu­rity situation”.

The risks threat­en­ing the Gulf and Arab invest­ments in Pak­istan, which increased in the last decade, largely because of the rel­a­tive sta­bil­ity expe­ri­enced by Pak­istan at the begin­ning of Mil­i­tary Pres­i­dency of Mushar­raf, or because of the eco­nomic reforms ini­ti­ated by Pak­istan which led the Gov­ern­ment to allo­cate Arab investors to share in large num­ber of banks and gov­ern­ment companies.

Num­ber of Pakistan’s banks have become the prop­erty of Arab and Gulf investors, in addi­tion to com­mu­ni­ca­tions com­pa­nies said that a num­ber of Syr­i­ans investors work in the front line for the Syr­ian Pres­i­dent Bashar al-Assad and his fam­ily own shares.

Also the Hariri of Lebanon invested with Nawaz Sharif and later failed to medi­ate between Per­vez Mushar­raf and Nawaz Sharif last Augustus.

Harirri was embar­rassed later by the Pak­istani reac­tion say­ing: [they do enjoy a strong rela­tion­ship with Saudi Ara­bia, so they do not require medi­a­tion by a per­son exer­cis­ing polit­i­cal activ­ity in another country.]