the elephant in the room

Gas prices hovering around $4/gal.
Oil prices hovering around $130/bbl.

The analyses I've seen all cite what seem like plausible macro-economic explanations: China & India are up-and-coming economic powerhouses, demanding more & more energy; U.S. drivers are addicted to gas-guzzlers.

What I've not seen is a simple graph. (I hope to learn a bit more HTML soon, and be able to display the graph!): the increase in oil prices began on 20 Mar 2003 - when we invaded Iraq.

The graph I have in mind is yet more telling: the divergence between price of oil in USD and Euros also began on 20 Mar 2003 - the day we invaded Iraq.

Europeans have been paying relatively less than us since then - USD/Euro exchange rate started going downhill on 20 Mar 2003.

The elephant in the room? Our occupation of Iraq.

Thanks again, W.

Stop the madness!