Iraq War: Here's what it's all about.

[Jara sang]

In this photo released by the U.S. Navy, engineman 2nd Class Robert Looney, left, and Engineman 2nd Class Joe Pearson stand watch on the North end of Al Basrah Oil Terminal (ABOT), in this June 13, 2004 photo, in Iraq. Despite President Bush's optimism on Iraq's reconstruction, Iraq appears set to pump less crude in 2005 than last year's disappointing showing and far less than under Saddam Hussein. (AP Photo/U.S. Navy, Wes Eplen)



The guided missile cruiser USS Mobile Bay (CG 53) patrols near the Iraqi Al Basra Oil Terminal (ABOT) in the Northern Arabian Gulf, in this Sept. 28, 2004 photo. Despite President Bush's optimism on Iraq's reconstruction, Iraq appears set to pump less crude in 2005 than last year's disappointing showing and far less than under Saddam Hussein. (AP Photo/U.S. Navy,Samuel W. Shavers)

[Clara T]

1. Energy

Petrodollar Warfare: Dollars, Euros and the Upcoming Iranian Oil Bourse

"This notion that the United States is getting ready to attack Iran is simply ridiculous...Having said that, all options are on the table." 
-- President George W. Bush, February 2005

By William R. Clark

08/08/05 "MM" -- -- Contemporary warfare has traditionally involved underlying conflicts regarding economics and resources. Today these intertwined conflicts also involve international currencies, and thus increased complexity. Current geopolitical tensions between the United States and Iran extend beyond the publicly stated concerns regarding Iran's nuclear intentions, and likely include a proposed Iranian "petroeuro" system for oil trade. Similar to the Iraq war, military operations against Iran relate to the macroeconomics of 'petrodollar recycling' and the unpublicized but real challenge to U.S. dollar supremacy from the euro as an alternative oil transaction currency.

It is now obvious the invasion of Iraq had less to do with any threat from Saddam's long-gone WMD program and certainly less to do to do with fighting International terrorism than it has to do with gaining strategic control over Iraq's hydrocarbon reserves and in doing so maintain the U.S. dollar as the monopoly currency for the critical international oil market. Throughout 2004 information provided by former administration insiders revealed the Bush/Cheney administration entered into office with the intention of toppling Saddam.<1><2> Candidly stated, 'Operation Iraqi Freedom' was a war designed to install a pro-U.S. government in Iraq, establish multiple U.S military bases before the onset of global Peak Oil, and to reconvert Iraq back to petrodollars while hoping to thwart further OPEC momentum towards the euro as an alternative oil transaction currency ( i.e. "petroeuro").<3> However, subsequent geopolitical events have exposed neoconservative strategy as fundamentally flawed, with Iran moving towards a petroeuro system for international oil trades, while Russia evaluates this option with the European Union.

In 2003 the global community witnessed a combination of petrodollar warfare and oil depletion warfare. The majority of the world's governments – especially the E.U., Russia and China – were not amused – and neither are the U.S. soldiers who are currently stationed inside a hostile Iraq. In 2002 I wrote an award-winning online essay that asserted Saddam Hussein sealed his fate when he announced on September 2000 that Iraq was no longer going to accept dollars for oil being sold under the UN's Oil-for-Food program, and decided to switch to the euro as Iraq's oil export currency.<4> Indeed, my original pre-war hypothesis was validated in a Financial Times article dated June 5, 2003, which confirmed Iraqi oil sales returning to the international markets were once again denominated in U.S. dollars – not euros.

The tender, for which bids are due by June 10, switches the transaction back to dollars -- the international currency of oil sales - despite the greenback's recent fall in value. Saddam Hussein in 2000 insisted Iraq's oil be sold for euros, a political move, but one that improved Iraq's recent earnings thanks to the rise in the value of the euro against the dollar. <5>

more...

http://www.informationclearinghouse.info/article9698.htm

[babylonsister]

2. I swear,

everything this poor excuse for a human touches turns to shit!

Despite President Bush's optimism on Iraq's reconstruction, Iraq appears set to pump less crude in 2005 than last year's disappointing showing and far less than under Saddam Hussein.

So when can the soldiers leave?

[patrice]

3. That missile cruiser is pretty scarey, knowing that Rep-ugly-cans

are seeking continued funding for smaller, more tactical, nuclear weapons, which I suspect that the Pentagon feels they need, considering the strangle-hold Rumsfeld has on force-size and all of this "lighter, faster, more flexible", do more with less, BS. Like we can have wars of choice without there being any consequences, because all of it is by proxy. This IS hell.