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The military industrial complex in both countries will have to replace all the hardware and devise new hardware for the war.
If you believe the nonsense cited by Blair,the Tories and Co for the war; you then have to believe all the good fortune which came oil's way was just a coincidental bi product of the war and wasn't the main motivating factor for invading Iraq. Regardless of the oil revenues from the Iraq fields, the oil companies will eventually share; the price of oil has been raised from a pre invasion average of $30 per barrel to an average of $60 since.
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