Mission Accomplished

The true reason for the Iraq War is posted here. Please note the opening line: By 2010 we will need [a further] 50 million barrels a day. The Middle East, with two-thirds of the oil and the lowest cost, is still where the prize lies. - US Vice President Dick Cheney, then Halliburton chief executive officer, London, autumn 1999

A brief refresher on why Cheney's pals felt we needed to invade here. The last bit is instructive:
Flat production is flat production. Despite the very high prices and widespread demand destruction, especially in poorer countries, oil producers have not brought more supply on-stream. That's just bizarre, unless the oil producers can't bring more supply on-stream. Some of the biggest producers - Saudi Arabia, Mexico, and the North Sea - are past their production peaks and declining inexorably. The smaller producers can barely replace those declines, let alone produce a net increase. Are we really to believe that OPEC simply cut their production because they like pricing their customers out of the market?