The difference is that if Iran could heave a nuclear weapon
into the Saudi/Gulf States/Kuwait oil installations, 100 dollar oil would be a dream scenario.
With that one act the economies of most of the world go into the toilet.
Please..."Could have"...Pakistan and India developed the bomb in the 90's and oil sold at $8 per barrel.
I think it is fairly obvious that there is Enron style irrational exuberance occurring in the oil markets.