Total cost of Iraq war hinges on oil question

Some estimates exceed $2 trillion, including impact on energy prices



During World War II, one economist notes, defense spending peaked at nearly 40 percent of gross domestic product. Applying the same accounting to the Iraq war finds the nation spending about 6.2 percent of GDP on defense overall, with Iraq accounting for perhaps half that.

By Michael Moran
MSNBC contributor
updated 4:17 p.m. ET, Tues., March. 18, 2008
[b]NEW YORK - “It’s all about the oil!â€