Saddam posed no threat to the free flow of oil and natural gas from the Persian Gulf after 1991, and he never posed as much of a threat as Wall Street speculators do today.
Wall Street speculators are unlikely to cause global economic depression. Saddam's potential seizure and sabotage of Kuwaiti and Saudi Arabian oil fields could in fact cause just that.
Care to explain how Saddam posed no threat to the free flow of oil and natural gas form the Persian Gulf?
Guess what, on the eve of the coalition invasion of Iraq in 2003, Saddam still had a military force of 400,000, with 2,700 tanks, 2,000 other armored vehicles, 2,000 artillery pieces, dozens of ballistic missiles and 300 combat aircraft. He also had the means to develop and produce chemical and biological weapons, even though he did not appear have them in his arsenal in March 2003. Kuwait is a small country and although Saddam had been weakened, military forces of that size are always a threat to a small country like Kuwait.
When the sanctions and embargo designed to help try and contain Saddam crumbled, the only other viable option was invasion and regime change and that is what happened!
The sanctions and embargo never crumbled, Iraq and its infrastructure did.
Then how was Saddam selling BILLIONS of dollars of oil on the black market by the summer of 2002:
Here is some reading you need to do to educate yourself on the crumbling of the sanctions and embargo on Iraq
"Syrian-Iraqi Trade Reached $2 Billion in 2001," Middle East News Agency, May 27, 2002
"Iraq Caught Smuggling Oil, UN Official Says," The Washington Post, October 26, 2001
Michael Slackman, "Oil Barrels Fuel Baghdad's Clout in the Region" Los Angeles Times, May 8, 2002
Gary C. Gambill, "Iraq Returns to the Regional Stage," Middle East Intelligence Bulletin, vol. 2, no. 9 (October 5, 2000)
Nicholas Berry, "
China , Fiber-Optics and Iraq," Center for Defense Information, February 26, 2001
Freedman and Stecklow, "How Iraq Reaps Illegal Oil Profits," p. A1
"Dancing On Sanctions Grave," Middle East Economic Digest, December 8, 2000
"Delhi Company Fuelled Iraq's Weapons System," Daily IRNA, June 6, 2002
Susan Blaustein and John Fawcett, "Sources of Revenue for Saddam & Sons, Inc.," Coalition for International Justice, draft manuscript, June 28, 2002, pp. 24-45
"The Oil 'Top-Off': Another Way Iraq Cheats UN," The Wall Street Journal, May 2, 2002
"Iraq Accused of Smuggling Illegal Oil," Los Angeles Times, October 26, 2001
"Illegal Oil Surcharges Earn Baghdad Extra $300 Million," Radio Free Europe/Radio Liberty, May 10, 2002
"Iraq Earned $6 Billion Illegally," Associated Press, May 29, 2002
"
Turkey: Iraqi Diesal Trade Seen as Too Valuable to Stop," Radio Free Europe/Radio Liberty, August 4, 2000
"Indian Arrested for Allegedly Exporting Arms Material to Iraq," Associated Press, June 6, 2002
"US Shifts Attack on Iraq Trade; Border States Seen as Key to Enforcing Sanctions," The Washington Post, March 26, 2001
"The Baghdad Dilemma," Middle East Economic Digest January 18, 2002
The Economist Intelligence Unit, "EIU Country Report: Iraq," March 2002