JAMES PETHOKOUKIS: Was the Iraq war cheaper than doing nothing?

Factoring in all those contingencies, the authors find that a containment policy would cost anywhere from $350 billion to $700 billon. Now when you further factor in that 1) a containment policy might also have led to a higher risk premium in the oil markets if Iraq was seen to be gaining in military power despite our efforts to box it in, and 2) money not borrowed and spent on Iraq might well have been spent on something else given the White House’s free-spending ways, it’s easy to see that doing a cost-benefit analysis on “war vs. containment” might have left administration officials with no clear-cut economic answer.

Plus, the appeal of Canadian tar sands!