[assblaster]

Wouldn't that be priced into futures contracts? Even with all the problems with Iran, the price of oil is really low in a historical context.

[marcosdumay]

Price is not a clear signal as you seem to be expecting. Remember, it's only a scalar that has to satisfy all of the constraints every person thinks is important.

Oil in particular seems to be unable to stay at very high prices. Historically we just get a recession and it goes down again.