[sammyg2]

Iraq doesn't have the most oil under the ground, they are rated #4 with 115 billion bbls, compared to Saudi's 265.
Canada has about 180 billion bbls and Iran has 132.
Iraq's oil is also deeper and much harder to get to.

I don't believe we have reached peak oil yet. We're close, but my guess is we're about 10 or 15 years from it.
Now here's the big question:
If he just wanted to increase oil production, all he had to do was get the UN to lift all the sanctions. they would max out their production to levels significantly higher than they are at right now.
No, that doesn't add up. He was going after Hussein and his military/terrorist threat (Sadam, not obama).