I agree with you on the necessity of oil for any economy. I just don't think the war is a grab for oil. You can say that if democracy actually took hold in Iraq, we would be in a better position to secure oil stocks, but oil will flow to the world market no matter who/or what is in charge in Iraq.
By the way, I also agree that China is our competitor on the world market, so is India and every other country that wants to expand their economy. We should get used to it.
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