Iraq was 1% of global oil production prior to Bush-Cheney Iraq War II.
Why did global oil prices change so much post 2003?
2000s energy crisis / disaster https://en.wikipedia.org/wiki/2000s_energy_crisis
> End of the crisis:
> By the beginning of September 2008, prices had fallen to $110. OPEC [...]
World oil market chronology from 2003 https://en.wikipedia.org/wiki/World_oil_market_chronology_fr...
> From the mid-1980s to September 2003: under $25/barrel.
1998: $10
2004: $40-$60. A series of events led the price to
2005: $60
2006: $75
2007: $60-$99
2008: $141.75
14x higher
price in 10 years
How did costs change over that time given efficiency growth year over year
Renewables are more lucrative with higher gas prices.
High gas prices typically lead to consumer price inflation and then prices never go back down.
