Oil; I doubt it, but time will tell. There would be no way to hide it if they tried
to exploit that oil for US benefit

Israel; They have concerns closer to home. Sadaam Hussein is (was?) not a
radical islamist, and not the most aggressive opponant of Israel. Why would
they use their dwindling influence to agitate against Iraq when they have
bigger threats right on their doorstep?

Yeah, the third option, ie the self-righteous belief that the USA is
the evangelist for democracy. This messianic faith in our political
system has been the justification for all US wars since 1860
The oil: Yeah we don't want that darn oil, if we did we would have taken it back in 90-91. I still think a trip to ANWR would do the trick.

Israel: Yeah, they have too much terror at home to fight against. I would also add that Saddam was giving upwards of 20,000 dollars to each "homicide bombers" family, so i think he has done more than his fair share of harm against Israel (if not directly,indirectly).

We only flirted with colonialism one time (if i'm not mistaken) in the Philippines , and it just was'nt our taste or style. Democracy is what we promote, we have no interest in occupation or colonialism.