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December 03, 2012

Too bad we didn't actually go to "war for oil"

"There's Another Massive Source Of Energy Coming, And The World Has George W. Bush To Thank".

Citi's commodities team believes Iraqi oil production is set to explode in the coming years, causing prices to turn downward. . . . 

One of the main reasons: Iraq's oil production is poised to reach heights never seen in its history — neither prior to America's 2003 invasion nor in Iraq's '80s heyday.


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Will preface this with my bias. I really despised W. Too much moralistic hogwash from him and the fundamentalists, and I felt he went crazy with the Bush doctrine of pre-invasion strategy. Plus he inherited a surplus and completely blew it.

Kind of liked Cheney though. Pretty gritty, less hogwash.

That said, I felt the longer term strategic benefits of invading Iraq were under-marketed.
1) Lower the global oil price longer term - we're seeing that.
2) (Relative) Stability on both frontiers of Iran.
3) Getting the under-the-table oil contracts out of the Russian and French hands. Ha ha.

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