If Iraq were producing oil at pre-war levels; an additional million barrels per day would be on the market, more than 1% of the worlds total production. Even given existing demand, we would not have an oil shortage, oil would likely be under $40/barrel.
However, if we wouldn’t have invaded Iraq; demand would be considerably less because the US military is one of the largest oil consumers in this country. All of those Hummers running around Iraq don’t run on solar power.
Our dollar would be worth a lot more, our military would be prepared to deal with real threats, and our economy would be in much better shape.
Middle-East oil is attractive to oil companies because it’s relatively inexpensive to produce, when they don’t bear the cost of a military operation to invade a country. The war only increases their profits.
It is in our interests not to depend upon foreign sources of oil. There is no reason that we should because we have ample resources in our own country. If the cost of war is factored in, developing them would be much more cost effective both in terms of dollars and environmentally. War is hell on the environment.
I believed that when the millennium rolled over; it would be the start of a new age and we would abandon war as an energy policy. Now that we’ve had an eight year demonstration of just how much of a failed policy that is I hope that we can get on with a better policy and take a different path.