This article is written from an Australian perspective and refers to the government of Prime Minister John Howard, but the second half deals with the global issues of Iraq, the Middle East and the politics and economics of petro dollars.
Here are some snippets ...
... the US didn't need to go to war with Iraq to get access to Iraqi oil, it had to go to war if it wanted to retain control of Iraqi oil ... "access to oil" means the US wishes to buy oil like any other country; ... "Control of oil" means that the US can use oil to exert influence against Europe, China and Japan.
Zbigniew Brzezinski: "Not only does America benefit economically from the relatively low costs of Middle East oil, but America's security role in the region gives it indirect but politically critical leverage on the European and Asian economies that are also dependent on energy exports from the region."
... "control of oil" also means control of profits as oil money is recycled back to the US to purchase advanced US weapons systems. The crucial factor in US hegemony is that it is able to pay for its oil in US dollars, giving it a gigantic advantage over its competitors in Europe and Asia (and Australia), which must first of all earn foreign exchange from exports to acquire US dollars in order to pay for their oil imports. While oil is a dollar commodity, the US can pay for its oil by printing more "greenbacks".
The US has gone full circle since the dollar was backed by gold and a healthy trade surplus until the 1980s. Now the main backing for the dollar as the international reserve currency is America's military might.
Saddam Hussein probably signed his own death warrant in 2000 when Iraq indicated that it wished to switch payment for Iraqi oil sold under the United Nations oil-for-food program from US dollars to euros. The switch back to dollars was one of the first decisions made by the US occupying power after the defeat of Saddam in 2003.
Ninety years ago, Britain's First Lord of the Admiralty, Walter Hume Long, said "if we secure the supplies of oil now available in the world we can do what we like"