I don't claim to understand the current war between Georgia and Russia - I know that the area has been under Russian control since the 1860s, but I don't know what motives drive the current war or even who to believe about who started it.
Thousands are suffering, mainly civilians.
The war could force the price of natural gas up, along with the price of oil. Russia may come out stronger economically because of this.
How long will industries survive with the fuels that support them going up in price? I don't know. I don't know how far away peak oil is, but the rising cost of energy makes it more expensive to send raw materials to be processed to make what we live from.
I hope this doesn't cause a worldwide recession.