Maintaining state ownership over the oil industry in Iraq will ensure a struggle among competing ethnic groups. Winning at the ballot box will bring the victor control over oil. Elections literally become life-and-death struggles. Losers cannot afford to accept the outcome. Again, that scenario has played out in Africa and the Middle East, regions that account for 70 percent of all major conflicts in the world.
If you want a libertarian argument that applies to any issue, there you go.