The Oil Factor: Behind the War on Terror.
Another reason for this invasion-occupation at the time that we did it, had to do with the pressure to lift sanctions. There was a huge pressure building to lift sanctions on Iraq. Had sanctions been lifted or partially lifted, Iraq could have been filled with Europeans, Russians, Chinese, Japanese, all kinds of folks. No American or British folks, but we and the U.K. had been bombing Iraq for 12 years. Had sanctions been lifting with Saddam Hussein still in charge, we would have gotten no contracts and no opportunities to invest in Iraq, but furthermore, we would have lost the ability to attack Iraq at any time, because Iraq would have been filled with foreigners. The other aspect to me is a smaller one, but it has to do with Saddam Hussein’s decision in November of 2000 to switch to the Euro for all of his oil for food exports. He had been on the dollar for decades. He decided to switch to the euro. He had gone into full production of his oil capability and had he continued to trade oil on the Euro and not the Dollar, this would have actually had a financial impact on the United States in that Central Banks in the world would be more favorable towards the Euro and less to the Dollar.
Full transcript here:http://www.democracynow.org/2004/10/22/the_oil_factor_behind_the_war