Most Americans probably don’t look back at March 2012 — if they remember it at all — and think of terrifyingly high gas prices. In the month when “The Hunger Games” ruled the box office and President Barack Obama was on his way to a comfortable re-election, the price of Brent crude closed the month around $123 a barrel. That would be about $175 a barrel in today’s dollars.

As of Tuesday, despite Iran’s effective closure of the Strait of Hormuz and its attacks on its neighbors’ energy facilities, it’s hovering around $100, slightly higher than the average inflation-adjusted price since January 2001, roughly $95.

That ought to provide some perspective on the panic over the war in the Middle East. To hear the critics’ version of events, an unprovoked and unnecessary attack on Iran, launched at Israel’s behest, is already a foreign-policy fiasco that has put the global economy at risk without any clear objective or endgame. As Senator Chris Murphy, a Connecticut Democrat, told NBC’s Kristen Welker over the weekend, “We’ve never seen this level of incompetence in war-making in this country’s history.”

Really? Let’s take a tour of some of the recent history.

During the 1991 Operation Desert Storm against Iraq’s Saddam Hussein, a campaign that is widely considered a brilliant military success, the U.S.-led coalition lost 75 aircraft, 42 of them in combat. In this conflict, four manned aircraft have been destroyed, three to friendly fire and one in an accident. Not a single manned plane has yet been lost over Iran.

The U.S. air and land campaign in that operation lasted a full six weeks. Today it’s remembered as a lightning-fast war. The current conflict with Iran is less than four weeks old.

Brett Stephens, New York Times