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About Iraq, RON PAUL was correct. About how oil is drastically higher because of dropping value of the dollar... Well, he's a gold-standard kook. Increasing demand and a limited supply of a fungible commodity with price fluctuations that are often based on wild speculation are the reason(s). But that's not a simple answer.
If you look at exchange rates with say...Canada whom supplies a lot of oil then clearly there has been a devaluation impact of the US dollar being worth less. This has also hit most of the metals markets and not just the speculation driven gold and silver markets.
Whats funny is that many Paul backers are the same ones that were screaming about the oil companies "gouging them" and when US currency devaluation was mentioned you get called a shill for the oil companies. LOL.
You also have to factor in that oil is finite and harder and harder to get at and the impact of global demand.
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