Oil Controversy

Oil has been a major US concern about Iraq in internal and unpublicized documents, since the start of this Administration, and indeed earlier. As Michael Renner has written in Foreign Policy in Focus, February 14, 2003, "Washington's War on Iraq is the Lynchpin to Controlling Persian Gulf Oil."

But the need to dominate oil from Iraq is also deeply intertwined with the defense of the dollar. Its current strength is supported by OPEC's requirement (secured by a secret agreement between the US and Saudi Arabia) that all OPEC oil sales be denominated in dollars. This requirement is currently threatened by the desire of some OPEC countries to allow OPEC oil sales to be paid in euros.-These paragraphs were taken from http://socrates.berkeley.edu/~pdscott/iraq.html.

US control of Middle East oil was supposed to help fund the money spent on the war in Iraq, at least that is what we were told by President Bush. However, 5 years later our country is a half a trillion dollars in debt due to the war and the are no revenues from oil in sight that will pay for this debt. This debt will be the burden of our children and our grandchildren. This is just another issue that the President had mislead the public on to gain support for invading Iraq.