In case you are one of the folks out there that still believes that Iraq was indeed a War for Oil, the other Weekend Pundit (Texas style) gives us some points to ponder.
1) Did the original Gulf War open additional oil reserves to the U.S.? Answer: No, in fact it tightened the market by reducing oil output from Iraq, previously a top supplier of U.S. oil.
2) Has the current war resulted in increased oil production in the Middle East? Answer: No, instead it has reduced Iraq’s oil output even further because of insurgent attacks on the oil industry in an effort to starve the fragile new government of a key resource.
3) Have oil prices improved as a result of either war? Answer: No, prices have skyrocketed as a result of a tightening market and increased worries over Middle East stability, terrorist attacks and U.S. military ambitions against Iran, Syria, Libya and other possible targets.
If this was a War for Oil, then we've failed miserably.
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