Just so you know, my interest in oil prices is not because I trade (I don’t), or that I care about global warming, tree-hugging, or America’s bill to buy oil, all I care about is the price; because that drives the value of companies and projects I’m invo… more »

The story so far: 1: There was a bubble in oil prices in 2008. The evidence for that is it popped which is a pretty good clue; although so far no one has figured out what drove the bubble. Yes it was probably speculators with access to easy money, but sa… more »

I suspect that even the most sophisticated student of Econ-101 would concede that the trajectory of the price of oil in 2008 was a bubble and that 2009 was a bust. However, no one has come up with a convincing theory for what it was that pumped up the bubble or what finally popped it, outside of the old favorites such as…the insanity of crowds, terrorist plots, and Goldman Sachs. more »

If the author's thesis is correct, 2011 was another oil bubble, and the proof of that will be if oil prices measured on the Brent index, go down to $70 or so, before the end of the year. more »