[mdittmar]

Deepening concern that the Israel-Palestinian conflict could escalate into a conflagration across the whole region has not only pushed the oil price to a six-month high,

There's a real suprise, prices rising before summer.

[Tasha]

Strap in tightly, this could get rough

It will get rough, no doubts about it. I only hope that my fellow FReepers do not have any open margins, or do not borrow any money to buy stocks in the moment of euphoria, or temporary illusion. It appears to me that the perfect storm is coming. We have a good captain. President Bush is a really good man and I pray for him, that he and his crew can easily face the challenges that are facing them.

[isthisnickcool]

Darn! And I just put new headers on my Viper!

[AmericaUnited]

I'd go short oil right about now. $28 a barrel will be close to the top.

[Arkie2]

Tell me again why we're not already drilling in the Florida Gulf and ANWAR? Oh, I forgot, we can't spoil the view in Florida and disturb the breeding habits of Elk in Alaska. I'm sure we'll all appreciate the wisdom of these choices a year from now.

[McGavin999]

The worry for Bush is that, even in the absence of a concerted Arab oil boycott, a higher oil price on wider conflict fears could blow a big hole in America’s recovery hopes.

Hmmmm, big hole in America's recovery means an even bigger hole in all other economies. America is the biggest consumer nation on earth, we stop buying who is going to buy the euro's goods and who will buy Chinese goods, particularly since we've been so consistantly insulted by these people. I know that I'll be more careful of what I buy. Just think of all the jet fuel that will be saved by Americans staying home this summer :o)

Oh yeah, and nothing like reminding Americans how dependent we are on foreign oil to make us more willing to drill and find our own sources, at least enough to get us by until the Russian pipelines can be put in place. We have L-O-N-G memories.

[aristeides]

I wonder why this writer didn't mention the obvious possibility that we'll seize the Arab oilfields if the Arabs press us too hard on oil supplies. There's much less reason to want to stay on the good side of the Saudis than there was in '73.

[ConsistentLibertarian]

Some people say Bush is stupid. But it's not true. He may do stupid things, but he's smart enough to surround himself with people who are smart enough to tell him when he's done something inconceivably stupid, and to his credit, he tries to fix his mistakes once he's been told what they are. We could do a lot worse.