Iraq war is partly responsible for high gas prices.

No doubt about it.

10 January 2006 03:44

Iraq has vast hydrocarbon potential that could rival major producers such as Saudi Arabia and Russia, but United States government analysts are predicting that Iraqi oil production development will remain thwarted for years to come.

Its enormous reserves of an estimated 115-billion barrels of proven crude are the world's third largest after those of the Saudi Kingdom and Canada.

As of December 2005, Iraqi net oil production was averaging a modest 1,9-million barrels per day (bpd) according to the latest country report on Iraq compiled by the US government's Energy Information Agency (EIA).

This is well below production levels of an estimated 2,3-million bpd in January 2003 just before the US-led military operation to bring down the Saddam Hussein regime.

The December number is also well below the near 3,5-million-bpd production level prior to Iraq's 1990 invasion and seven-month occupation of Kuwait that led to the 1991 Gulf War.

http://www.mg.co.za/articlepage.aspx?area=/breaking_news/breaking_news__business&articleid=260957

the increase in the price of petrol not to mention the incalculable cost in human suffering on both sides.

The cost in lives of course is incalculable.

We know how much we are spending on the Iraq war, and it is without doubt that lower Iraqi oil production as a result of the war is surely impacting prices at the pump.

It's a basic supply/demand equation.