The resultant economic income elasticity / demand destruction from sudden "shocks" in energy costs will dull those gains for oil comopanies. And that shock has

The resultant economic income elasticity / demand destruction from sudden "shocks" in energy costs will dull those gains for oil comopanies. And that shock has a longer signal. Witness the commodity runup from the last time we blew up west Asia - the resultant liquidity squeeze would melt down the financialized economic system. A collapse only slapshod avoided by exchanging government risk for private risk on an unprecedented scale. Did the Iraq 2003 adventure actually net more money for oil companies in a 10-20 year horizon? Debateable.