LONDON (AFP) - The price of a barrel of crude could "double If The unrest in the Arab world deteriorates, oil trader Turned British international development minister Alan Duncan Warned Saturday.
Duncan, Who has 30 years' business experience In The Gulf Told The Times newspaper thats the price of a barrel of crude "could top $ 200 (£ 123), well above-the-record high of $ 147 (£ 90) Reached in July 2008.
If Extremists Used The instability in the Arab world to bomb oil tankers, pipelines or Saudi reserves, prices could "Even hit $ 250 (£ 154) a barrel, Duncan said.
Said the Times analysts fear could "trigger Such highs Another recession in Britain.
"Saying I've been in Government for Two months ... $ 200 is if this is The Cards goes wrong, if anyone IS reckless and fomenting unrest. All I'm Predicting Is Danger," Said Duncan.
"It Could Be very serious.If crude oil doubles, you're going to Have a very serious spike (in petrol prices). Try living without it for a week. "
The British Government Is Under Pressure Over The Price at The Pump, With 63 Percent Of The cost going to the Exchequer.
If The Worst Happened, current prices of £ 1 cash advance.30 ($ 2.10, 1.50 euros) per liter at The Pump "could look like a luxury," Said Duncan, warning of £ 4 a liter.
"A Twittered-up generation now has massive power. All Arab countries are moving on. Purpose They Are All Different," he said.
"The Powers are shifting but you can not do it overnight. We Are Asking Them To Do At The flick of a switch What We Took centuries to do.
"The Majority Of These rulers are not Dictators. These Are Countries With Their own history and culture.Who are we to read? We must treat thesis Countries with Respect. "
The People Who want to go all unelected leaders should remember Iran, Duncan said.
"It did not work With The Shah, We Must Pray it works in Tunisia, Egypt and Libya.
"At the moment This Is secular, Economic and Demographic goal if it goes wrong you see Islamic fundamentalism Will Becoming the only vehicle for People's Grievances," he warned.
