Let's work this theory out.
Ok, every now and then I like to indulge psychotics in their fantasies.
For the sake of argument, let's do it.
We invaded Iraq because of oil.
Ok. It would follow that we would secure the fields, rebuild the fields, transport the oil to the world and this extra supply would inevitably cause a decrease in oil prices, right?
More supply would lead to OPEC decreasing prices and cutting production to compete. Right?
What is happening? More production, the highest prices ever. Even given the rise of China, does anyone seriously think that the "new Iraqi oil" wouldn't show in the market?
Ok. Another pet fantasy of the left is George H.W.'s friendship with the Saudi's. First of all, I cannot imagine the amount of work, meetings, and bribes that it would take to force the Saudi's to break from their own oil conglomerate. Imagine how difficult that would be. Does anyone seriously think that H.W.'s pocket, desires, and influence are that deep? Please.
So in order for the fantasy to work, the Saudis would have to repudiate OPEC, form a special alliance with W./Iraq and agree to doctor the prices. Wouldn't it follow that the Saudi's would agree to lower/keep production at the same rate, drive up demand, and consequently drive the prices up for maximum profits?
As usual, I hate to be the bearer of bad news, but your fantasies don't hold up when subjected to the harsh light of reality.
Thanks for playing,