Iraqi oil output, if I'm recalling correctly, is about 2.1 million bpd. Last I heard (within the last week I think) the price of oil had climbed to $37/barrel.

The point of the "no blood for oil" slogan is that oil isn't worth a single drop of blood. Or are you suggesting that maybe certain people's blood might be worth less than other people's blood, and therefore, an even trade?