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What tumble?? There hasn't been a 'tumble' in gas prices where I live.

Ah well, there will soon be many happy Kurds anxious to get into the oil business themselves. Unfortunately for OPEC, Iraq's not an OPEC nation. So what good will OPEC cutting THEIR prices do when the Kurds become oil tycoons?

"...many happy Kurds anxious to get into the oil business..."

How so? I do not think we, the US will let the Kurds control the humongous oil fields in the northern part of Iraq. Iraq is a part of OPEC, though suspended since GW-I.

We may well decide that initially Iraq should be a part of OPEC, giving US a voice. Later we can withdraw Iraq and open the spigot big time to put OPEC in the place they so richly deserve. Why?

Initially Iraq will have limited pumping capability. Not enough to do much damage to OPEC. Later that will change, and probably much faster than the pundits are prognosticating. At some point we should expect Iraq to demand the right through OPEC to pump at least as much as Iran does now, 3.5 - 4 million barrels a day. OPEC will resist that, then it is time to force things. Expect it to happen.

"Unfortunately for OPEC, Iraq's not an OPEC nation."

http://www.opec.org/

They're still on the roster. Recent events may take them out of OPEC but right now they are a member nation.