Since Iraq has the largest proven oil reserves under the planet,we have ben there for 5 years going?

But yet a barrel of oil is now at a record $142 a barrel,wonder why that is?Since Iraq has the largest proven oil reserves under the planet,we have ben there for 5 years going?
Well, the FED did devaluate the dollar, while Congress is inflating the dollar with all of that massive overseas spending, and the continuation of dumping and creating money only makes the dollar even weaker and worthless. Also, our foreign policy overseas pushes higher gas prices, food prices and the cost of living go up because of the weak dollar that isn't backed by anything. We see now stagflation, and this trend will continue if we keep spending irresponsibly without a backing to our currency. It's no wonder why countries reject it, and this is what weakens the dollar, and wipes out the middle class and economy here at home. Take care.Since Iraq has the largest proven oil reserves under the planet,we have ben there for 5 years going?
Its called new exchanges that aren't FCC regulated, in London and in Dubai.


And as soon as they do become regulated so people can't articificially push the prices up, one will be going up in Vietnam so they can do it again.





That, and a low dollar value.
Because the actual oil reserves in Iraq are not close to being what you say, in truth Russia has a lot more oil than Iraq. In either case, the Iraq invasion has almost no efect on the cost of oil.
Conflicts in the middle east are the problem. Another problem is speculation (buying, holding, selling, stocks, bonds, ... to profit from fluctuations in its price instead of buying it for use).
I wasn't aware that Iraq did have the largest proven oil reserve.





I always thought that Saudi Arabia did.





Where's your source?
INTERNATIONAL DEMAND (brought on by the explosive economic growth of both China and India) dictates the price of oil.