Gal Luft

It’s too early to celebrate the recent decline in oil prices after they topped $55 a barrel. None of the reasons that created the price spike — the strong thirst for crude in China and India, the dismemberment of the Russian oil giant Yukos, the terror strikes against oil facilities in the Middle East — has gone away.

In the past two months no fewer than a dozen people in Iraq and Saudi Arabia demonstrated in three separate incidents their willingness to die for the cause of hurting the U.S economy in what appears to be a new phase in the war on terror.