Ther is No oil bubble.

The phrase started popping out last week: "Oil Bubble" The idea that the price of crude oil has been artificially inflated by speculators in such way that soon decline on consumption will cause a sharp drop on it. I disagree. I will like to pair oil with electricity where our evolving lifestyles aims toward the increase in energy consumption fr communication and transportation. It is a more plausible scenario to see the price of gas in the US to escalate to the levels seen in Europe (5 to 7 dollar gallon) and consequently,people in the US adopting European customs like the use of mass transportation and reduced household sizes closer to work.