It isn't about the oil, it is what the money and power such oil would give to this sick cult ISIS and what further horror they will do with such money and power regionally, and then globally as they acquire such "revenues".
The other side to this extreme danger is, delivering genocide and such horror and terrorism is on the cheap today and does not reqiure a lot of money, power and resources to do so. ISIS won't even need much to notably pick up the pace of such destruction and genocide.
And then, oil does matter. Not as much as the revenues it will provide to ISIS and their designs, but it matters to the Kurds. ISIS has its designs on the oil rich area of Kurdistan as soon as they complete any mass genocide on those peoples. That is why the failed president Obama needs to immediately try and help shift the situation and enable as much as possible that Kurdistan should be allowed to sell its oil directly onto the world markets, they can use the revenues themselves to arm with sophisticated air power and the latest assault rifle that coming will be issued as standard weapon of the US infantry in late 2015, literally a game changer of a ground troop weapon.
An independent Kurdistan will also soon work with the destined future counter-Islamic terrorist state shortly to come which is India. India can also turn to the Kurds for oil supply and other resources for their world largest Blue Water Navy in the world.
Japan, which will likely have no choice but to rearm, needs oil.
Of course, the United States should ween herself off of ME oil. That won't happen until the Republicans retake the Senate in November, and the chess board starts to move to expanded domestic oil unprecedented in American history to expand jobs.
No one man runs a country, really Obama is going to have no choice but to back the Kurds which is the correct move. Chevron and ExxonMobile need to expand their foothold and partnership in the newly independent Kurdistan as well in addition to domestic oil. The success of electric vehicles and companies such as Tesla (a great investment I made a lot of money) are dependent on a growing robust economy that domestic oil would provide, then alternative energy will actually have a chance.