A Nobel Peace Prize for George W. Bush?

NATO will robustly survive. Trans-Atlantic trade will be a sturdy link - and will continue perhaps to provide the only Euro-American battleground. The guarantee of oil supplies at manageable and predictable prices will be a comfort. The spread of stability, peace and democracy to a region formerly denied these blessings, as well as the blessings of a "free market," will be applauded.

Even the conflict between Israel and Palestine might be resolved at last.

Already persona non grata with the United States, Yasser Arafat will be replaced with a putative "democrat" who will clean out the terrorists and negotiate a lasting peace with Israel. Palestine will achieve formal statehood. A cluster of Nobel Peace Prizes will be handed around - perhaps even one for President George W. Bush - and quiet will at last descend on this troubled area.

All of this is speculation of course. Nothing of the kind is really likely to happen.

Or is it?

Whatever the answer, such thoughts must have exercised the minds of some at least of those enjoying their "summer holiday" frolics at Crawford, Texas.Cheney predicted that, after a successful campaign against Saddam, "Extremists in the region would have to rethink their strategy of jihad.

Moderates...would take heart, and our ability to advance the Israeli-Palestinian peace process would be enhanced."

Just how much impact those thoughts are having and will have on United States policy, we shall know only as events unfold in the months ahead.

Right now, the impact appears to be mighty.