The Rise of Petro-Exuberance -- Former Federal Reserve chairman Alan Greenspan coined the phrase "irrational exuberance" in 1996. He worried that dot-com assets were overvalued. Four years later, the bubble burst, confirming his concerns. Presently we are observing the last gasps of irrational exuberance in petroleum. Call it "petro-exuberance." Read more here.