''If Zarqawi and [Osama] bin Laden gain control of Iraq, they would create a new training ground for future terrorist attacks," Bush said. ''They'd seize oil fields to fund their ambitions. They could recruit more terrorists by claiming a historic victory over the United States and our coalition."
Pretty good argument.
No, it wasn't much of an admission at all, the way I read it. It looks like he was just adding yet another reason to stay, not justifying going in there in the first place, although that would be an OK, but not great reason to go in anyway; plus, he didn't appear to revoke the reasons he had before. I think it's a good idea to try to make sure that terrorists have no fuel or control over fuel in order to take the money from oil and spend it on destruction. Bush is saying that in addition to the many other reasons to be in Iraq, here's another.
Besides, if we were there strictly for the oil, wouldn't we have already taken it by now? Seriously, we aren't going to take over a country full of oil just so we can tap our own national reserves and raise our own prices.