Iraq War May Have Increased Energy Costs Worldwide by a Staggering $6 Trillion

Iraq War May Have Increased Energy Costs Worldwide by a Staggering $6 Trillion | By Geoffrey Lean, The Independent. Posted May 27, 2008.

The invasion of Iraq by Britain and the US has trebled the price of oil, according to a leading expert, costing the world a staggering $6 trillion in higher energy prices alone.

The oil economist Dr Mamdouh Salameh, who advises both the World Bank and the UN Industrial Development Organisation (Unido), told The Independent on Sunday that the price of oil would now be no more than $40 a barrel, less than a third of the record $135 a barrel reached last week, if it had not been for the Iraq war. ...