How oil and gas could be the new dot-com bubble

MARKET enthusiasm for any one sector is a dangerous thing. If shares in any industry rocket, it’s time to jump ship. City bulls are never in it for the long term.

The most famous example is technology, or dot-com. The late 1990s internet bubble is the most notorious since its South Sea ancestor, costing investors kazillions in misplaced investments. Now the sector is derelict – regarded with suspicion.

The mood that enveloped that era was, of course, one of mindless optimism, but there was also a solid belief that the future of industry was indeed online. Not just for a couple of years, but for time eternal.

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