In a medium bowl whisk together olive oil, garlic, cumin, chili and onion powders, and salt. Add in shrimp and toss to coat completely. Cover and refrigerate for for at least 10 minutes or up to 24 hours.
Heat a large heavy-duty or cast iron skillet on high heat for 2 minutes. Add the olive oil and shrimp. Cook shrimp in a skillet on medium-high heat until pink and cooked through, about 5 minutes. Turn off heat and finish with a squeeze of lime (optional).