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Originally Posted by attaboy  I think oil is experiencing a bubble just as the US housing market did. The huge pool of investment money is looking for places to park. Right now it's oil. When it falls back the money will look for some other place. Maybe Brazilian real estate. Who can guess? |
I guess this ties into the mistaken belief that speculative future trading in oil has driven prices higher? Not the case. The drop in prices are more likely due to a drop in demand, as the high price has eventually started to have an impact on demand, combined with several national governments reducing or removing subsidies on petroleum products such as diesel, petrol and LPG.