Buy the rumor

Sell the news. Justin Raimondo informs us that the American Conservative appears to support my conjecture about rising oil prices being the result of the market’s anticipation of war with Iran:

There is considerable speculation and buzz in Washington today suggesting that the National Security Council has agreed in principle to proceed with plans to attack an Iranian al-Qods-run camp that is believed to be training Iraqi militants. The camp that will be targeted is one of several located near Tehran. Secretary of Defense Robert Gates was the only senior official urging delay in taking any offensive action. The decision to go ahead with plans to attack Iran is the direct result of concerns being expressed over the deteriorating situation in Lebanon, where Iranian ally Hezbollah appears to have gained the upper hand against government forces and might be able to dominate the fractious political situation.

It is looking rather like a long, hot, and expensive summer. Interesting times, my friends, interesting times.