I know it sucks having to pay for gas at this time, but I think it is apparently obvious that things are heading into a bubble. Should the price of oil be up? Yes. We have more demand than ever before, but this isn't prices going up with respect to demand, it's going up by speculators.

Prices are determined by speculators and they're really getting creative with thought. The oil market is really out of place and no one can seem to find equilibrium. That is fine, the market will find it. It will suck in the mean time, but it will go back to a normal level.

We are in a bubble because things are just acting weird. It's going up very high for minor issues and this is what is going to happen. POP!

I saw this over at the CNN website, so at least the mainstream media is at least starting to get it.


Posted by Christopher | 8:00 AM | | 0 comments »