CrowMAW,
Again, your point of view is shortsighted.
You are assessing the situation on the light of the immediate conflict. On the Arab evaluation of US, the issue has not finished. The military face of Iraq battle (not war) appears to be nearly over. But there is the political battle to win. The outcome of this last one will mark at the end the perception of western countries among Arabs. Who, incidentally, are not stupid and can judge by themselves.
On the oil issue, perhaps I might suggest you to find out about the costs of extracting and distributing that crude oil. According to 2.001 OPEC statistic booklet, Iraq accounts for 10'46% proven oil reserves, a total of 112.500 Million Barrells. Assuming a cost of extraction of $2 for all this reserves, which is a very optimistic estimation, forgetting everything about distribution costs, and assuming a price for iraqui crude oil of $20 (iraqi oil quotes a fair 10 to 15% lower than Arabian Light reference, which, too, quotes lower than Brent reference), the total value of Iraq Oil sums up to 2 trillion, roughly talking, in the best possible scenario.
But you have to bear in mind that Iraq's output (2.001 figures) is 2'6 Million barrells per day, which makes up to 950 Million Barrells per year. That would sum up to $17.100 Million per year, which is the money available in terms of Cash-Flow. But this would be if Iraq rigs would be intact, which is not the case. The investments needed to put Iraq potential to work are substantive.
You have to go somewhere deeper in the money issue to make some more credible argument to your Oil War assumption.
I suggest you to deepen more on the analysis, and you will find Iraq's oil, while an important factor in the US stance in Iraq battle is not, can not be, the most important.