||About the Author|Daniel O'Sullivan is a journalist who has covered the energy and mining sectors for the past decade. He is currently employed by the Investors Chronicle magazine, part of the Financial Times Group.
The spike in the oil price to almost $150 per barrel in summer 2008 was the last great excess of the crazed noughties bull markets, staged even as stock markets crumbled worldwide. Contrary to entrenched establishment opinion still embraced by many, 'Petromania' proves this oil price blowout was a classic speculative bubble, but driven primarily by new modes of financial speculation. Demolishing widespread, oft-repeated but incorrect arguments that such trade in pa...
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