Frankly, I'd rather see someone come up with a new energy supply and let them all regress into the glorious 15th century lifestyle they all aspire to.
Aren't you more or less admitting here that oil is the reason we're concerned with Iraq. You're comments about the smart people around Bush misses an obvious point - with the exception of Powell (widely regarded as an outsider in this administration) all of Bush's important advisors have a big oil background. Condoleeza has a tanker named after her!
Your theory also doesn't account for the attack on Afghanistan. Nothing was accomplished re: the War on (some) Terror, and Afghanistan was regionally unimportant, but it is the only route for a major pipeline project which will now happen with the Taliban removed.
The desire to control oil supply explains everything, IMHO.