Last Monday I arrived early to a meet a friend for coffee.  When I arrived I noticed the Wall Street journal and thought I would take a quick look.  That is when the article called "The mother of all Bubbles? Oil's record run baffles bears" struck my eye.  This being the first article that I have seen that posed this question and I wanted to see what Gregory Meyer had to say.
The article says that analysts continue to warn that oil prices close to falling back to at least $80.0 a barrel.  Micheal Lynch, the president of  Strategic Energy & Economic Research Inc. out of Amherst, Mass was quoted "I
personally think this is the mother of all bubbles" and expect prices to fall back to $80.0 a barrel by late June.  Tim
Evens from Citigroup in New York feels that the bubble is still expanding and is creating a supply surplus.  Micheal 
Lynch says that even with red flags on the horizon and oil prices breaking predictions, the rally has generated a sort of self-fulfilling momentum.
With all that, I have different scenarios of why the run up in the crude-oil and what are the possible effects of the
bubble burst.  My first thought is that after the bubble pops gas prices will go down a little then the government
will increase the tax on gas to create revenue.  Everyone has been forced to rethink future purchases and plans in
light of the price of current gas prices.  This may create a smaller stir than if the government just heaped the tax
on the current rise in gas prices.