Is it speculating to blame speculation?

Steve Forbes joins his voice with others to say that current oil-prices represent a speculative bubble:

Forbes said recent oil prices of more than $50 per barrel are the result of speculators."

About $15 to $20 of the oil price is speculation," he said.

Simple, straight-forward. And as best as my non-economist MBA-brain can tell, correct. I'll gladly entertain other ideas but when oil stocks and gasoline stocks are high yet gas prices stay at record highs and the price of crude floats above $50-barrel me thinks the problem is purely speculative in nature.