Quote:
Originally posted by Charlatan
It isn't ALL about oil but it is about oil nonetheless.
Regardless whether the US allows elections to occur in Iraq the US will have some control over the oil policies of Iraq as such this gives them an in with OPEC.
A very favourable position.
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I wouldn't say an "in" so much as OPEC has to restructure itself to account for Iraq's production or exempt Iraq from OPEC's quota.
Currently, however, prices have dropped due to the fact that the market is saturated due to the expectation that we would need more oil than we used in the Iraq war.