Iraq and war-for-oil argument

Hopefully this will put an end to the oft repeated leftist canard that the Iraq war was for oil.

Since the American-led invasion of 2003, Iraq has become one of the world’s top oil producers, and China is now its biggest customer.

China already buys nearly half the oil that Iraq produces, nearly 1.5 million barrels a day, and is angling for an even bigger share, bidding for a stake now owned by Exxon Mobil in one of Iraq’s largest oil fields.

“The Chinese are the biggest beneficiary of this post-Saddam oil boom in Iraq,” said Denise Natali, a Middle East expert at the National Defense University in Washington. “They need energy, and they want to get into the market.”

Why do leftist keep repeating the remark that one must go to war to secure oil? Perhaps they do not understand fundamental economics. In case of the oil market there is a very willing seller, the Arab countries don’t have much else to trade and need the money, and willing buyers. To purchase the oil, one simply has to pay for it and outbid the other buyers, which is what the Chinese are doing.