FACT: Iraq has the world’s 2nd largest proven oil reserve.
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According to oil industry experts, new exploration will probably raise Iraq’s reserves to 2-300 billion barrels of high-grade crude, extraordinarily cheap to produce, leading to a gold-rush of profits for international oil firms in the post-Saddam era.
The four giant firms located in the US and the UK have been keen to get back into Iraq, from which they were excluded with the nationalization of 1972. They face companies from France, Russia, China, Japan and elsewhere, who already have major concessions.
But in the post-war setting, with Washington running the show, the US-UK companies expect eventually to overcome their rivals and gain the most lucrative oil deals that will be worth hundreds of billions, even trillions of dollars in profits in the coming decades.
Potential long-term profits estimated by private oil companies in Iraq, using different estimates for four key variables, including price and company/government share out of oil rents, the paper arrives at total profit estimates ranging from approximately $600 billion to $9 trillion. The "most probable" estimate yields annual profits from Iraq production of $95 billion per year for 50 years, a rate three times greater than the 2002 worldwide profits of the five largest international companies.(Global Policy Forum)
BUT WAIT THERE'S MORE :
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BEFORE Bribite & RTLW, say wait what about the "U.N. Oil for Food Program" they wave in our face and say it's THE reason why the U.N. and European Nations didn’t want us to invade Iraq, while I do give "some" merit to this claim, G.W. Bush's & Cheney’s hands are not clean from this mess either. Cheney dealt with Iraq and profited from the situation as well.
HALLIBURTON & IRAQ TIES MORE THAN CHENEY SAID:
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http://www.newsmax.com/archives/articles/2001/6/24/80648.shtml
Washington Post reports = In a July 30, 2000, interview on ABC-TV's "This Week," VP Dick Cheney denied that Halliburton or its subsidiaries traded with Iraq. Three weeks later, on the same program, he modified his response, after it was found that Halliburton Co., the oil company that was headed by Cheney, has at least two subsidiaries, Dresser-Rand and Ingersoll Dresser Pump Co., that have signed contracts worth more than $73 million, that sold oil production equipment and spare parts to Baghdad, Iraq through its French (yeah them smelly fuckers, bribite) affiliates. Two former senior executives of the Halliburton subsidiaries said they knew of no policy against dealing with Iraq. One of them said he was certain Cheney knew about the deals.
ALSO:
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Just take a WILD guess where the INFO that claimed the UN was cheating this program came from .... ding ding ding,
the one and only Amhed Chalabi
UN Set to Probe Fraud Allegations in Iraq Program (3/16/2004)
http://www.globalpolicy.org/security/oil/2004/0316fraud.htm
Ahmed Chalabi, member of Iraq’s Governing Council, alleges the Saddam Hussein regime diverted nearly $2 billion from the UN oil-for-food program to personal accounts. To date, no evidence has been offered to support the charges. (Reuters)
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More to come later .... this is getting good huh 
PS, let's see the neo-cons try to call these links rags/trash,
after all NewsMax is a Pro-Republican site.