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In 2002, before the war, Saddam was producing 2.6 million barrels of oil per day even with the debilitating sanctions still in place. Currently, (given the success of Iraqi resistance attacks on pipelines) Iraqi oil production has dropped to a meager 1.1 million barrels per day. In other words, Bush’s war has taken 1.5 million barrels a day “off line”; the precise amount the global market requires to reduce prices to the $45 per barrel range.
Consider this: the United States has spent roughly $300 billion on the war so far. At 1.1 million barrels per day (396 million barrels per year) we are currently spending $274 per barrel which translates into $12 per gallon at the pump.
$12 per gallon!!!
This represents the greatest surcharge on petroleum the world has ever seen. Think of it as the Bush Gas Tax, a boondoggle that quadruples the price of gas while killing 2,400 American servicemen and 100,000 Iraqis in the process.
Originally posted by Dialsoap
So at first everyone was saying Bush was going into Iraq for Oil!!! I remember when I was in D.C. and there was a protest to the war and people were picketing with sign's saying "No blood for Oil" Now you are saying it is Bush's fault for not giving us oil from Iraq? Wow....Get a life!!!!!!!
Originally posted by rich23
Hey Marg -
there will be an insurgency trying to ensure that the oil supplies are disrupted, at the very least.