But it seems to me that the oil bubble is beginning to hiss.
In March, I called for the CME to use its power to take the air out of the oil bubble.
If the dollar is strengthening and if the oil bubble is hissing, then U.S. stocks might do well in the near term.
But today Iran looks less like a short-term threat than it did a week ago, or a year ago, when the oil bubble began inflating.
President Bush could help to once and for all pop the oil-price bubble by selling oil from the Strategic Petroleum Reserve on a more regular basis.
Oil was in a bubble of its own, well beyond the general commodity bubble.
The Fed inadvertently triggered the bubble in oil prices through its inflationary monetary policy.
That was rebound growth from the late 90s crisis years, coupled with steadily rising oil prices in the bubble years between 2000 and 2007.
Now news of the off-shore oil find has provided a bubble of optimism and a hope that some lengthy wish lists will be addressed.
On the other hand, due to the high oil prices and the bursting of real estate bubble, the USA economy is recently giving strong signals of a forthcoming stagflation: a recession with increasing inflation rate.
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The result is, there is now a vociferous group of shale-gas (and oil) enthusiasts who have created a mini-bubble in shale.
Then we were heading into recession, oil shock, Nixon's demise, a real estate bubble.
With the US debt bubble still firmly in place, Dietrich says investors should expect oil, commodities, gold and precious metal prices to rise again later this fall after taking a breather over the summer.
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Thiel and his colleagues placed bets that reflected his contrarian nature: they bought Japanese government bonds when others were selling, concluded that oil supplies were running out and went long on energy, and saw a bubble growing in the U.S. housing market.
But the recent history of oil supply and demand gives a hint to what even a partial deflation of the carbon bubble can bring.
Long before vast numbers of such Flexible Fuel Vehicles are on the roads, the OPEC cartel-induced speculative bubble that has contributed to the recent run-up in the price per barrel of oil will be lanced.
The price surge in oil (along with other commodities) since the late 1990s has the look and feel of a speculative bubble.
Once the modular elements are installed, residents are ready to move on in to their extremely sturdy (built to stringent industrial standards, oil silos are resilient to just about anything whether it be water, wind or zombies) and extremely sustainable retrofitted bubble digs.
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