Word: oil
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...trillion estimate is not without its critics, including University of Chicago economist Steven J. Davis. In an interview, he rejected the claim that the war caused a five to ten dollar per barrel increase in oil prices, citing evidence to the contrary from historical price shocks such as the first Gulf War and the Iran-Iraq...
...Baghdad to seize Sunni homes, thus turning Baghdad into an almost exclusively Shiite city. And then of course there are the heads of the mafia-type gangs and networks—many which first came into existence as a result of international sanctions and then the “Oil for Food Program” of 1990—who continue to benefit enormously from the opportunities for lucrative smuggling both in and out of Iraq, as well as smuggling drugs and other lucrative products transiting from the east...
...election, the majority of people will vote along sectarian lines to elect leaders of their own community. It is then the task of these same leaders to reach a consensus amongst themselves over power-sharing and the division of government resources. The fact that Iraq possesses huge revenues from oil should, in ideal circumstances, make this process that much easier...
...think I get any oil for coming here?’ I asked in half-mocking frustration,” he writes...
...government has a wrong outlook on the economy, when it has a political take on the economy, I think these problems come about. We need more reason and farsightedness on the economy, not just looking at our own tenure but beyond that. Otherwise I think the rise in oil prices was a golden opportunity that the government not only didn't take advantage of, but even turned it into a threat to domestic production because of the high volume of imports that the government pursued with the oil money...