The Iraqis have done just that. Their oil sales have gone way up. They are selling as much oil today as they were prior to the war. That is 95 percent of their currency that they earn for all sorts of things. The administration will say this is only used for food or humanitarian reasons.
Money is fungible.
So the administration's policy has been a total disaster. Here is just the oil production charts. We have a depression going on right now in the oil industry. You have 111 oil rigs running today. Last year we had 372.