{"id":1667,"date":"2005-08-14T18:06:17","date_gmt":"2005-08-14T18:06:17","guid":{"rendered":"http:\/\/zmetro.com\/?p=1667"},"modified":"2005-08-14T18:06:17","modified_gmt":"2005-08-14T18:06:17","slug":"is_oil_a_bubble","status":"publish","type":"post","link":"http:\/\/www.zmetro.com\/?p=1667","title":{"rendered":"Is Oil A Bubble?"},"content":{"rendered":"<p><a href=\"http:\/\/bigpicture.typepad.com\/comments\/2005\/08\/is_oil_a_bubble.html\">Barry Ritholtz<\/a>:<\/p>\n<blockquote><p><i>My B-in-L Bob, a very senior BP exec (now retired), is the one who initiates the &#8220;Oil is a bubble&#8221; discussion. <a href=\"http:\/\/bigpicture.typepad.com\/comments\/2005\/04\/gasoline_prices.html\">All the inflation adjusted charts<\/a> seem to only go back to include the 1970s &#8212; and that&#8217;s not far enough to show the true price trend of oil. Bob argues that Oil has been in a very long downtrend, and the 1970s price spike was an aberration. So too, the 2003-05 run up. A longer, inflation adjusted chart would reveal that the present spike is aberrational, and unlikely to be sustainable. I am somewhat incredulous of this claim.<\/p>\n<p>His point however, is well taken. While he is expecting an eventual mean reversion, simply base dupon price, I have a similar expectation based upon market cycles. The next recession (there&#8217;s always a next recession, just as there&#8217;s always a next recovery) will see reduced demand for Oil, and that will allow prices to fall.<\/i><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Barry Ritholtz: My B-in-L Bob, a very senior BP exec (now retired), is the one who initiates the &#8220;Oil is a bubble&#8221; discussion. All the inflation adjusted charts seem to only go back to include the 1970s &#8212; and that&#8217;s not far enough to show the true price trend of oil. Bob argues that Oil [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[29],"tags":[],"_links":{"self":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/1667"}],"collection":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1667"}],"version-history":[{"count":0,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/1667\/revisions"}],"wp:attachment":[{"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1667"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}