One of the reasons for the U.S. invasion of Iraq was to get greater control over Iraqi oil. President Bush and his advisors didn't like the idea of Saddam Hussein having control over a resource so vital to the U.S. economy. But one clearly abject failure of the U.S. occupation of Iraq is that oil production, even five years after the U.S. invasion, is no where near what it was when Saddam had control over it. "Before the war, Saddam Hussein's regime pumped some 3.5 million barrels of oil a day, but this had now fallen to just two million barrels," the UK Independent reports.
For a variety of reasons, a barrel of oil on the world market could go up to $200 in the foreseeable future, wrecking havoc on the world economy, the article states. It is based largely on research by David Strahan, author of The Last Oil Shock.
Some extremely short-sighted politicians would have the U.S. spoil our natural environment by allowing for the aggressive drilling for oil in the Alaska Natural Wildlife Preserve, as well as off the coast of California, Florida and North Carolina. But that would only buy us a few years of continued oil dependence. A far better choice is to move as quickly as possible toward more fuel-efficient automobiles, more hybrids, and more environmental-consciousness as a society.