I dont think the oil trade was the "only" reason for arming Saddam. We had to create a balance of power between Saddam and Iran after we armed Iran in a money laundering scam (Iran-Contra) to fund the Sandanistas in south america, a threat much closer to home after the Cuban Missile crisis.
Although our "Iran-Contra" scam was a big part in how Iran became strong, the reason we supported Iraq in the Iranian Conflict was not because Iran was a physical danger to us.
Because we supported them (at least partially because) they were becoming strong enough not to depend on the US as an oil customer (which is very bad for the US since we are very dependent on the oil of other countries). And, they may have only decided to trade with our "enemies" or other anti-American countries (not a very good thing for us @_o').
(Basically it's kinda similar to our fears before Vietnam and Korea. These countries turned Communist and we were afriand they would dump us off in trading and go support Russia, our biggest enemy at the time, which needless to say, wouldn't exactly be a good thing. Of course, this fear wouldn't have been so great without the "Domino Theory," but that's another story).
Anyway, Iran wasn't strong enough to really be a true threat to us physically. That's why we didn't have the reason to go and bomb them ourselves (well, we could have pulled a "Bush" and say that they have weapons that we gave them and that we should go bomb them for that...or something).
And again by taking action like this simply for financial reasons, we keep making more problems for our country.
Here's the main problem:
We support some terrorists to fight one government instead of doing it ourselves, these people hate us and then become strong enough through our actions to be a threat to our trade, so we support another country to go fight them for us again, this country also hates us, and now we supposedly feel threatened by them through our own actions again.
We support some terrorists to fight another government (the Taliban and the Zuraki Government) for us, they hate us, and then they get strong enough through our actions to attack us.
Like I said before, America is very infamous for handling situations in this manner (especially for reasons surrounding financial situations, such as trade, etc, which makes us so unpopular with France as of now). The problem with this, is that our actions don't only affect us, but other countries as well.
In a nutshell, that's why so many countries hate America (for anyone who is wondering). Now if we did it only when we felt we were in physical danger and not financial danger, then maybe we wouldn't be as hated, because countries (such as France for example) would find appropriate reason for such action and wouldn't judge us so harshly for those decisions.
All in all, we have to stop supporting terrorists to do our dirty work for us. Otherwise we're just going to have to keep supporting more terrorists to fight the other terrorists we supported previously and then later support different terrorists to fight the others when we're done with them. The attack on 9/11 should have shown our country that this obviously isn't working! Is this the only way we can fight our enemies? To create and finance more?
We just make more countries angry everytime we do it. Afterall, the Taliban actually became anti-American because, after we got them in power, we went and started screwing with Palestine.
I think we just plain need to stop making new mistakes just to try to "fix" our old ones. It doesn't work.
Another reason I'm mad at Bush is that he's just going after the "problems" we've caused only if they have oil involved. Our main problem right now is Korea. And yet he does absolutely nothing about it. Again, even though Clinton wasn't a great guy, at least he kept up on the Korean threat. When Bush came in, he completely dropped it. And he has remained SO inactive about it, that other countries are starting to get alarmed.
Well, Korea doesn't have oil. Go figure. I support Capitalism, but it's a sad day in American history when we actually hand our "throne" over to the businesses themselves. This is why presidents aren't allowed to take bribes, it affects their ability to run the country in a way that's best for America. Well Bush has gone behond "bribe" because his family owns these companies to begin with. And now just look what's happening. This is rediculous.
In the future, we need to learn from this and make sure that anyone who applies for presidency cannot own a major business that will be affected by presidential actions. It's just not good for our country.
Few! All in all, my main point is that we need to stop making these mistakes now and Bush isn't helping.