Prices are rising faster than consumption and production fundamentals dictate! <img src="http://img108.imageshack.us/img108/734/sdpow6gc.png"></img>
Golfer, I agree that the chart is classic tulipmania. However, one has to remember that since the chart is still being made, it's impossible to tell where the peak is going to be. Also, the accellerating price means that exclaiming the top is very risky, as the peak can be at 100, 150 or even 500. Just draw it up in the chart and you'll see. Classic parabolic move... I have made good money on the long-side in oil stocks over the last few years, but I'm not advocating that they're going higher.
hrokling , Oh I'm not calling a top, as you said, that would be silly. I just wanted to combat these people who are touting peak oil theory and other garbage that makes things looks like th world is ending and that commodities will be super expensive forever. I can't help but laugh when I hear them talk about it.