Friday, July 11, 2008

Did we invade Iraq for the oil?

We might never know the answer to this question but let's try.

We imported 485,000 barrels of oil per day from Iraq in 2007. In 2001, before the Great Invasion, we imported 795,000 barrels of oil per day.

In the three year period of 1999-2001, Iraq's average daily production of oil was 2,503,663 barrels per day.

That's 2.5 million barrels of crude oil per day.

The current five year average is just 1,865,380 barrels of oil per day.

That's 1.8 million barrels per day.

And a drop of 638,000 barrels per day. And, 232,000,000 barrels per year.

So, our invasion of Iraq cost the world 232 million barrels of oil per year for five years.

What would you be paying for gasoline today if that billion barrels of oil had reached the world markets?

Still think China and India are causing the record gasoline prices in America?

Still think the "War on Terrorism" has stabilized Iraq or the Middle East?

Did we invade to reduce production and raise prices?

If we restored 300,000 barrels of oil per day in crude oil to our country, would that eliminate the pressure to have the government fund deep water drilling? Would it drop gas prices?

If we invaded to provide stability, we've failed unless stability means a huge reduction in the major national product, oil. If we invaded to control oil supplies, we failed unless control means reducing supply. If we invaded to capture bin Laden, or WMD, or to deny al Qaeda and terrorists a base of operations, we failed.

So, the answer to "Did we invade Iraq for the oil?" remains unknown. Because there haven't been any positive results in Iraq's GDP, world oil prices, or regional stability.

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