Do you actually believe that we'd hand over control of the oil to the Iraqis? I sure don't. And even if we do give control of the oil infrastructure to the Iraqis (after we give Cheney's buddies at Haliburton a tens of billions or so to rebuild it), they'll still be in our pockets.
We HAD to do it. Saudi Arabia is walking on the edge of a knife, where one false step will lead to an extreme fundamentalist regime that won't be too friendly to the US. Plus, China and India are going to demand more and more oil as we progress, and we need a toehold in the Middle East to exercise political and miltary might to keep the rude crude flowing so we could continue our suburban SUV nightmare.
OK, the end there was a bit radical. But we absolutely would NOT be there if there wasn't oil to be had and if we weren't so addicted to it.