The Oil 'Price Rise' Factor in the Iraq War: A Macroeconomic Assessment

15 Pages Posted: 4 Jun 2008

See all articles by Mamdouh G. Salameh

Mamdouh G. Salameh

Oil Market Consultancy Service / ESCP Europe Business School, London

Date Written: June 2008

Abstract

I start with the premise that the war on Iraq was undoubtedly about oil. The prize was Iraq's spectacular oil wealth estimated at 330 billion barrels of proven, semi-proven and probable oil reserves. At current oil price of $130/barrel, the value of these reserves is estimated at $42.9 trillion, more than three times the United States' gross domestic product (GDP). Even Alan Greenspan, the former chairman of the US Federal Reserve Bank for seventeen years, says the Iraq war is largely about oil.

Keywords: Oil, War, Macroeconomic

Suggested Citation

Salameh, Mamdouh G., The Oil 'Price Rise' Factor in the Iraq War: A Macroeconomic Assessment (June 2008). Available at SSRN: https://ssrn.com/abstract=1140333 or http://dx.doi.org/10.2139/ssrn.1140333

Mamdouh G. Salameh (Contact Author)

Oil Market Consultancy Service / ESCP Europe Business School, London ( email )

Spring Croft, Sturt Avenue
Haslemere
Surrey, GU27 3SJ
United Kingdom

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