Todays DU threadarama

And guess what? It is not filthy, it is not obscene, and it is NOT about Booosssshhh (the lefties do not write his name like that much anymore.)

I read today that the motive for invading Iraq was this: That the UN imposed sanctions on Iraq weere going to be lifted and
Saddam Hussein had already revealed his intention to denominate his prices in Euros instead of dollars.If this was allowed to occur, all oil rich nations would follow suit.This would result in the collapse of the dollar, causing economic ruin for us.

Does anyone have any more information on this?

I’ve heard the theory as well. Seems plausible. Further that was one of the many reasons why France and Germany were so opposed to the invasion. They supposedly were in negotiations with Sadaam for exclusive oil contracts.

Heard it on NPR a couple years ago. n/l (PS: the posters avatar was removed under legal threat from Fox.)

True, to a point. Saddam had already repriced Iraq oil in Euros. Other Opec countries were thinking about it, but hadn’t taken any action before the invasion in March, 2003. One of the ironies of this whole episode is that, if the invasion was meant as a warning to other Opec members not to move off the dollar, then it had the opposite effect in relation to Russia which moved off the dollar about a year ago.…

This whole oil pricing business is so murkily complex that, though I’ve been trying to figure it out for years (strctly as an amateur using public sources) I confess to not knowing much more now than when I started.

Yes, Dollar (vs Euro) Hegemony and Peak Oil are the real reasons. Real Reasons for the US Invasion:
Military Solution to an Economic Crisis

Indeed the US has taken the contrary course. It plans to reverse the various trends mentioned above by seizing the world’s richest oil-producing
regions. This it deems necessary for three related reasons.

Loads more:

Was a short thread, since no Bush bashing. Only a couple more, none worthwhile to post. But, it is funny that the Lefties have made a case that it was worthwhile to go to war with Iraq. Or, perhaps they would have preferred extremely high unemployment, high inflation, low spending ability, people loosing their homes, etc.

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