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Speculative bubble?
Yes some of it was that, a lot of it (the majority) was all the messes in the middle east, a good portion was a huge increase in demand due to US wasteful over consumption and huge increased demand from emerging markets (primarily china and india), to a minor degree all the turmoil with supply from Africa and manipulation from mid level producers such as chavez and putin, and of course good old fashion gouging by big oil with a very very friendly administration.....the moon not only aligned with mars, but jupiter, venus, and saturn as well.
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