Yep. If cheap oil was the goal then we can conclude that it did not work. You could have bought quite a few barrels of oil in return for the money sunk in the iraq war.
Ah, but remember that the net present value of an annuity is based on what that annuity truly turns out to be. If there's a point even in ten years where oil has severe scarcity, it will pay off quite well.
But I don't think it's about that. I think that, unlike most countries, the American infrastructure is utterly and completely dependent on oil. It's its lifeblood. In my opinion, it's about concerns for the future and securing a resource that's vital for the survival of the entire nation.
