I am not an expert or anything and dont even know how to go about buying options...But believe it or not, before the war, i predicted that oil prices would actually skyrocket instead of go down even after Bush's friends were squatting right over the oil pumps of Iraq...
I still think over the next years, oil prices are still going to increase even if we are at 58 per barrel....China is growing too fast.
One risky move would be also buying cement options (if they exist) or housing materials like timber...But be warned folks, when that real estate market goes boom, the pain will be felt world over.