As the Arab world continues its revolution and Qaddafi grows more and more irate watching power slip through his fingers like sand, economies are growing nervous. Oil just hit $100 a barrel. Saudi Arabia is ready to make up for the shortfall, as it talks to European oil companies.

High oil business prices are poised to dramatically affect global economic growth this year. As The Economist notes, an 85% hike in oil prices is almost always followed by a recession. While other developed nations have a petrol tax, above 1%, ours is about a quarter of a percent. This leads to increased spending on highways, perpetuating the problem instead of spending on transit alternatives.

The Arab countries in revolt (Egypt, Yemen, Iran, Algeria, Libya, and Bahrain) supply about a fifth of the world’s oil, and since prices reflect future expectations, the more trouble, the more expensive oil is.

Chances are there will be many more repercussions of the revolution. Even if the Saudis can make up for the lack, it won’t be for long. Americans should begin to think about oil business alternatives and absorbing revenue from rising oil prices with a petrol tax is the best way to force them to do so.