A good analysis from Jim Vallettee of TomPaine.com on why the Bush regime chose the Wolfman to head the World Bank:
Over decades of political work, Wolfowitz and longtime buddies Donald Rumsfeld and Cheney have mastered the art of packaging raw geopolitical and corporate objectives into initiatives named otherwise. Strategic oil fields have preoccupied them in and out of office. It is almost a natural progression for the Bush/Cheney administration to want someone this steeped in blood and oil in charge of the World Bank. He was a weapon of mass deception for corporate quests in Iraq. At the Bank, he can serve the same function under the cloak of poverty alleviation. Wolfowitz long advocated for the Iraq invasion, partly on the basis that Saddam Hussein controlled a lot of the world’s oil. In 1998, he advocated the creation of a “liberated zone” in Southern Iraq, and the creation of a “provisional government to control the largest oil field in Iraq and make available to it, under some kind of appropriate international supervision, enormous financial resources for political, humanitarian and eventually military purposes,” in testimony before Congress. “Saddam’s supporters in the Security Council—in particular France and Russia—would suddenly see a different prospect before them. Instead of lucrative oil production contracts with the Saddam Hussein regime, they would now have to calculate the economic and commercial opportunities that would come from ingratiating themselves with the future government of Iraq." With the invasion of Iraq, Wolfowitz executed a similar agenda, using oil resources as a lever for economic, military and commercial opportunities. Occupied Iraq represents the main “development” experience of this would-be World Bank honcho. Wolfowitz helped orchestrate the U.S. reconstruction agenda, first by trying to strong-arm non-coalition Europeans into canceling Iraq’s debt...He has never vocalized opinions on debt cancellation accumulated by other odious regimes, as far as the public record reveals. After the Europeans did not fall in line, Wolfowitz said the spoils of war—er, reconstruction contracts—should go only to those countries that supported the U.S. invasion....Over the ensuing months, billions of dollars of oil export revenues flowed through the Coalition Provisional Authority-controlled Development Fund for Iraq (DFI)—and into the Bush/Cheney administration’s favored corporations...The Bank’s reticence to finance projects in Iraq may have pushed Cheney and gang over the edge, ushering the embodiment of U.S. unilateralism into his anointed role. With Wolfowitz in charge, the World Bank may be able to complete what the Iraq invasion started two years ago: U.S. corporate control over the world’s second-largest oil reserves.