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I'm completely stealing this idea from someone I won't name, but I think it's worth throwing out there. Probably I'm getting it a little wrong, but here goes.
First, assume the U.S. knows that Saudi Arabia is going to fall (sooner or later, but probably sooner.)
Assume that the war in Iraq is largely to secure enough oil in preparation for this eventuality.
The idea is that we take Baghdad and the oil fields in the north. We pump this oil out through Turkey.
And we let Iran take the south and those oil fields. Maybe we pretend to protest at this, maybe not. But the point is, we will use Iran as a buffer between our northern occupation, and the scary fundamentalist regime that will have sprung up in Saudi Arabia.
I find this to be a very compelling theory.