Bush's Oil policy

In 2002, before the war, Saddam was producing 2.6 million barrels of oil per day even with the debilitating sanctions still in place. Currently, (given the success of Iraqi resistance attacks on pipelines) Iraqi oil production has dropped to a meager 1.1 million barrels per day. In other words, Bush’s war has taken 1.5 million barrels a day “off line”; the precise amount the global market requires to reduce prices to the $45 per barrel range.