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Alan Greenspan discusses oil and the war in Iraq

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Uploaded on Feb 20, 2008

Many people have misinterpreted Alan Greenspan's comments in his book about the war in Iraq being about oil. Here he gets frank with Tim Russert on Meet the Press. Originally aired September 27th, 2007.

For more information about his thoughts on this, please see the following article:

http://www.washingtonpost.com/wp-dyn/...

From this article:
'Greenspan, who was the country's top voice on monetary policy at the time Bush decided to go to war in Iraq, has refrained from extensive public comment on it until now, but he made the striking comment in a new memoir out today that "the Iraq War is largely about oil." In the interview, he clarified that sentence in his 531-page book, saying that while securing global oil supplies was "not the administration's motive," he had presented the White House with the case for why removing Hussein was important for the global economy.

'"I was not saying that that's the administration's motive," Greenspan said in an interview Saturday, "I'm just saying that if somebody asked me, 'Are we fortunate in taking out Saddam?' I would say it was essential."'

He said that in his discussions with President Bush and Vice President Cheney, "I have never heard them basically say, 'We've got to protect the oil supplies of the world,' but that would have been my motive."

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