“It wasn’t only the prices going high that worried some of the Gulf countries, it was also the fact that, at the same time, a number of major food exporters, decided to impose export bans in an attempt to keep prices down” said David Hallam, an analyst with the FAO. “So what they feared was that not only were they facing high prices, but it might not be possible to secure supplies at any price.”
And that, in turn, makes the wealthy Arab states, with the food crisis for their own rapidly growing populations, only more concerned. High oil prices lead to food shortages, which have destabilizing political effects. Interesting times ahead.