The bottom line, (the thing that you should always watch), is that anyone in the oil business is going to be having a previously unfathomably profitable time at the expense of the rest of the world's economy. Inflation will be at previously unheard of levels, and money for anything other than oil/energy will be in short supply for governments and individuals from the federal down to the munincipal level.
Welcome to the age of scarcity. This going down in history as the incredible accelleration of some pre-existing negative trends due to inept leadership at the highest levels. Ralph Nader will go down finally as one of the most significant players in the history of the world.
