Soros says oil price a Bubble

http://www.rediff.com/money/2008/may/26soros.htm

The above url speak about how Soros thinks that the oil price is a bubble that will only burst when the U.S. and Great Britain go into full blown recession. I might agree except for one thing: When President Bush went to Saudi Arabia to plead for more oil production the Arabs there gave him a bicycle. Some of you think it is a joke. I don't. I believe they are saying: "Our oil fields have peaked. We all need bicycles now!" That is my interpretation of the Saudi's giving Bush a bicycle.

So is Soros right or wrong? I think the bicycle says it all.