The price of oil set yet another record today, so watch the Dow continue to tumble tomorrow.
Meanwhile, the Bush administration is exploring the possibility of shipping Iraqi oil through Israel:
The United States has asked Israel to check the possibility of pumping oil from Iraq to the oil refineries in Haifa. The request came in a telegram last week from a senior Pentagon official to a top Foreign Ministry official in Jerusalem.
The Prime Minister’s Office, which views the pipeline to Haifa as a “bonus” the U.S. could give to Israel in return for its unequivocal support for the American-led campaign in Iraq, had asked the Americans for the official telegram.
Gee, I wonder if they consulted with the Iraqis on this, since Iraqi PM Allawi ruled out any normalization of relations with Israel a scant two weeks ago.
Sovereignty my ass.