My dad has been talking for months about tulip mania, both with regards to housing and now commodities, including oil. That said, far too many folks now believe the price of oil and other commodities will increase forever, which is exactly what the speculators predicated their moves on during the housing insanity two years ago...and we all know how that one ended!
Kind of reminds me of the Beannie Baby thing back in the 90s. Now you can’t give the things away.