Why does oil bubble when you fry things?

My apologies if this question is misplaced, but I've always wondered: what causes the oil to bubble and sizzle when you fry something in it?
It's always intrigued me that I could take a totally inert-looking pan of hot oil and turn into a frenzy by dropping a piece of potato (or something else) in.
Best Answer
The oil is bubbling very simply because of the water inside the object (eg: potato) that is rapidly vaporized when come into contact with the very hot oil.
Incidently this is a very good thing as done right, all the water coming out of the object keeps it from taking on too much oil, which would cause you to have over-greasy food.
Edit: Also note as @SF commented below, that this can also be a very BAD thing if you put something with too much water into hot oil. Adding this in so nobody burns themselves.
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Quick Answer about "Why does oil bubble when you fry things?"
When food is dropped into the hot oil, the moisture in the food rises to the surface to evaporate. This causes the characteristic bubbling of the oil, and when the associated moisture, starch, and impurities are left behind, they may create a foam on the surface.HFC tip for Bubbles in Cooking Oil ? Why Cooking oil is so spongy? Ghaag in cooking oil?
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