[wayoverontheright]

Oil Prices Are Plummeting...

They are inching down compared to the CLIFF they will fall off when the market realizes that the former Russian federation countries' refusal to play ball and the Iraqi oil coming on line will soon deal the double death blow to OPEC.

The futures markets will start to function again as they did before OPEC, facilitating entry to market, and thereby increasing competition at all levels of the industry, from extraction to refining.

This will be the least expensive war we ever fought, in overall fiscal impact.

[Texas_Dawg]

This will be the least expensive war we ever fought, in overall fiscal impact.

No kidding. People worrying about spending $87B or more on Iraq need to go look at our deficits as a percentage of GDP in WWII. We're nowhere even close to that.

[dyed_in_the_wool]

Right on.
If you discount all of the taxes on gas at the pump (we can dream, can't we) gas would be cheaper than water.
(Oh wait, it already is.)

Seriously, though, Saudi Arabia is fighting a war on two sides. You notice none of the libs are talking about 'petro euros' anymore?
For anyone who remembers the 'petro dollars' it's what led to the massive inflation of the 70's.
If Europe wants that, then I say, "Go for it".