When it starts to go it's going to be a looooong slide down.
There are articles appearing here and there warning that oil is in a price bubble. Yet, there are those insisting that “this time it’s different.” I consider these first article to be leading edge indicators.
A couple of years ago the first warnings came out about the housing bubble. Those articles were ignored. Now, the area where I live, houses that were easily selling for $300,000 sit for months priced under $200,000.
Looks to me like Oil is about to do the same.