How Did United States Use Oil Prices In Iraq In The Iraq War?

Many historians agree that the United States’ entrance into Iraq during the second Iraq war benefited oil companies and thus the US alike. After the overthrow of Saddam Hussein many oil companies, like Shell and ExxonMobil began attempts to move into Iraq. As these US companies benefited from the oil that was present, the US enjoyed cheaper oil prices. The price prior to the Iraq war and the overthrow of Saddam Hussein for a barrel of oil was $40 USD. However, after the war oil prices dropped to $35 USD. This $5 USD is a very large change considering the US imports billions of barrels of oil every year. Through this, it is clear to see that the war, in fact, did have an affect on oil prices and on the operations of oil companies; however, many historians disagree on …show more content…
One believer in the flawed idea that the United States invaded Iraq in operation Iraqi Freedom for oil is Antonia Juhasz. Juhasz asserts the claim that the presence of oil conglomerates in Iraq after US involvement ended and them having access to Iraq’s abundant oil resources is indicative that the Iraq war was indeed fought for oil. However, Muhammad Ahmad claims that if the Iraq war was indeed for oil, then the United States was negligent in securing the prize, meaning that the US did not pave the way for US based oil companies to easily set up oil wells in Iraq. While the presence of oil conglomerates in Iraq during the initial period following the Iraq war cannot be discounted, the question of how many US oil conglomerates set up operations in Iraq must be asked. Of the 11 contracts that were issued, only one went to a US oil company. This suggests that US companies did not benefit from the exchange and as a result the United States was not a