The Spoils of War: Economic Interests of War in Iraq
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While the reasons a country goes to war are complex, there’s no doubt that oil — a pillar of the United States foreign policy since the Carter Administration — is a vital interest in the Persian Gulf.
Iraq, currently known to have 11 percent of the world’s oil, is estimated to have huge untapped oil fields, which could mean big profits for oil companies. And with an increased military budget, now at $400 billion dollars, the weapons industry is gearing up, and cashing in.
On this edition of Making Contact, we take a look at the economic interests behind the war against Iraq.
Michelle Ciarrocca, Senior Research Associate, Arms Trade Resource Center; Rania Masri, Director of the Southern Peace Research and Education Center at the Institute for Southern Studies; Jim Valette, Research Director, Sustainable Energy and Economy Network; John Granoff, President of the Global Security Institute; Paul Wolfowitz, U.S. Deputy Secretary of Defense; Ziad Abu-Rish, organizer for Global Exchange; Steve Kretzmann, Oil Policy Analyst, Institute for Policy Studies