I'm not talking about hedging (like buying call options). I'm saying that oil price would be expected to be a potentially large part of the risk profile of the business, so it doesn't cut muster to just assume that the price of oil won't go up and cut a check. A competent investor will analyze the impact of common risks for the type of business in question, and make a determination as to whether the investment makes sense in light of the risks.

That doesn't mean that the investment isn't expected to be hurt (or wiped out completely) should the price of oil rise, it just means that a competent investor would have looked at that possibility and decided that the investment was still worthwhile.

The comment I was responding to IMO assumed flippancy on the part of investors and implied that they would be surprised by an increase in oil. That's absurd.