[AZLiberty]

It's commodity speculation. According to an NPR commentary the other day, even CALPERS (the California state pension plan) is investing big in oil futures, betting that the price will go up. Until the U.S. gets a handle on inflation, speculation in oil, gold, and other commodities will continue.

The NPR commentary suggested that the bubble could break at any time, driving the price as low as $30. Or it might not, leaving a possibility of $150 oil. Apparently the world is awash in physical petroleum -- oil stocks are plentiful. The only shortage is in "virtual oil", as speculators continue to bid the price up.

[Froufrou]

Sure, it’s a shell game. If we were to get organized and stage a stand-off, we could derail the train. It’s worth a try. But we’d need a Super-FReeper to organize it...