That oil belongs to us anyway, at less than $5 a barrel. We invented the technology, drilled the wells, and are pumping it out. Somehow this vital resource fell into the hands of the backward sand bandits, who wouldn't have ever have discovered it on their own. How much was this territory worth to them before we created its value?
Of course, the cause of this is not that we've become touch-feely pushovers who hand over everything we create on our own to those who did nothing to deserve it. The American oil companies piggyback off Arab price extortion and also make even more from drilling foreign-owned oil than they did when they owned those properties. The empire struck out because the UN umpire blew the call.