That's one reason. The main reason of course was to control the world's second largest oil reserves, boost Iraqi oil production and be in a position to undercut the OPEC cartel. The 3rd reason was a proposed re-opening of a oil pipeline directly to Haifa, this is why the Zionists were particularly gung ho.
"In the past, dependence on oil has cost our economy dearly. Oil price shocks and price manipulation by the OPEC cartel from 1979 to 1991 cost the U.S. economy about $4 trillion, almost as much as we spent on national defence over the same time period and more than the interest payments on the national debt. Each major price shock of the past three decades was followed by an economic recession in the United States. With growing U.S. imports and increasing world dependence on OPEC oil, future price shocks are possible and would be costly to the U.S. economy."
(Source: U.S. Department of Energy, Spring 2002.)
