"Bear markets generally begin in good times. Bull markets generally begin in bad times."
...five years ago, the commodity futures market had $13 billion invested in it. Now it has $260 billion. Eighteen years ago, only 13 percent of open interest in oil futures was long (betting that oil prices would go up). Now, 58 percent is invested long.
Speculators Are to Blame for Sky-High Crude Oil Prices
By: Andrew Gordon
July 1, 2008
The Real Numbers Behind High Gas Prices
By: Steve Sjuggerud