There is a terrific editorial in Investors Business Daily

The French government's opposition to our Iraq policy seems less rooted in principle and more rooted in cash. As so-called French intellectuals like to say, the war to liberate Iraq was indeed about blood and oil — American and Iraqi blood and French oil.

French oil company TotalFinaElf had exclusive rights to develop the Nahr Umar and Majnoon oil fields, which hold 25% of Iraq's reserves. Some 60 French companies did $1.5 billion in trade with Iraq under the U.N. oil-for-food program. France controlled 22.5% of Iraq's imports. And, most important, from 1981 to 2001, France sold Iraq 13% of its arms imports.

Read the whole thing. Link courtesy of Larry Kudlow.