Money War And Oil In The Iraq War

Money War and Oil
The Iraq War was an arms conflict where the government of Saddam Hussein was believed to have had Weapons of Mass Destruction, the United States saw this as a threat and invaded. The invasion began on March 20, 2003, two years after the start of the War in Iraq, now the U.S. was in two Wars and the prices began to soar. The conflicts began with the repeated bombing runs known as operation “Shock and Awe”. Then began soldiers and vehicles invading Iraq and, after almost 9 years of bloody and horrific attacks, bombings, and battles, the war ended on December 18, 2011. While the United States has rid itself from Saddam Hussein and the threats he posed, almost 5 thousand service men and women lost their lives for a war that started

There is a seemingly direct link between the war in Iraq and oil and gas prices rising in America, “the price of gasoline has gone from an average of $1.57 a gallon in March 2003 to $3.27 a gallon last week.” Since then, gas prices have risen further, to $3.61 on April 29, 2008.” (Detroit Free-Press Editorial, 3/31/08; AAA Fuel Gauge Report).
The Iraq War drastically cut Iraq's oil supply, which then led to high oil prices. “In the absence of Iraqi supplies, prices have soared three-and-a-half-fold since the U.S. invasion on March 20, 2003. The profits of the five biggest Western oil companies have jumped from $40 billion to $121 billion over the same period.” (Steven Mufson-”A Crude Case for War?- Washington Post.com). Iraq Oil refineries started the stockpiling of Oil to then raise prices due to concern of civil unrest and regional conflicts after and some even a result of the Iraq

The ungoverned territories are being contested over oil and gas facilities by militia groups such as ISIS other Salafi Jihadist groups who move south to attack the major Oil reservoirs. Investments in oil production in the Middle East has slowed because of this unrest in the regions, “Iraqi oil production has not risen with demand, in part because investment in the Middle East has been stunted by war-related unrest.”(Jonathan Weisman-”Economists Debate Link Between War, Credit Crisis”- Washington Post, 4/15/08). The United States pushes to increase arms sales to unravel oil import related trade problems, this ensuing instability forces governments to use purchased arms, which begins the cycle yet again, as new conflicts disrupt oil supplies. The occasional disruption or halting of exports have now become more permanent because of civil war caused by the lack of a stable government. These attacks are usually without warning and thus unexpected, the attacks are not continuous which affects the prices. The oil prices sometimes recede, this is why Americans usually turn their heads to the thought of differing prices and continue with their