This article (via Manan Shukla) argues that the US did not invade Iraq in order to privatize its oil fields. The US oil companies did not want more oil,
they wanted high oil prices. Iraq had been exceeding its OPEC quota. The extra oil supply was keeping oil prices down. The solution was to create a state oil company that would cooperate with OPEC by not exceeding its quotas. This has kept oil prices high which pleases the oil companies, and the Saudi's who dominate the OPEC cartel.
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