North vs. South Korea: How Bad Could a War Get?: "“As we enter the summer of 2010,” writes Austin Bay, “the risk of all-out war on the Korean peninsula is quite high, and possibly the highest it has been since the armistice was signed in 1953.”
The good news: It’s unlikely that North Korea has enough gasoline to fight for more than a few days.
The bad news: they could really mess up the South in less time than that.
The worse news: nobody knows what would happen after the inevitable North Korean collapse, but everybody knows that nobody could afford it.
The downright scary news: even a wildly unspectacular North Korean invasion would serve as a test of our CINC’s mettle — a test we can’t be certain he’d pass."