Bubble bubble oil and trouble

This is pretty much a bookmark to myself about the current "oil crisis" (there, I said it, now we can all run out into the streets and start panicking: "Gaszilla! Gaszilla!") and it's also a fantastic job by Mark Thoma of summarizing the current academic upraisal of the situation.

For those who don't follow current economic opinion, I would say that a majority of economists believe that speculation is not the culprit responsible for high oil prices. There are, however, a few dissenting voices. Thoma does a great job of gathering the relevant information and putting it all together. Cheers!