It's probably the laminate that's bubbling up. I can be caused by lack of adhesive, moisture, sunlight exposure, hot objects, or poor application. The first thing to try is to use heat to re-activate the glue. I read that laying a towel on top of the bubble area then laying a iron on medium heat to warm the location then leave a heavy weight on top like a brick to keep pressure on.
I pulled the following instructions off the internet:
While laminate countertops are best known for being inexpensive and durable, over time, the laminate can become damaged or start peeling away from the surface. If you have a bubble in your laminate, it is probably because something has heated the adhesive underneath, melting it and causing the laminate to detach from the surface of the substrate underneath. Fortunately, you can usually solve the problem by reheating the adhesive and sticking the laminate to the surface properly.
- Gently heat the area of the bubble. You don't want to scorch the countertop by getting it too hot. A heat gun is most efficient, but a hairdryer will work, too. The adhesive needs to be about 140 or 150 degrees Fahrenheit.
- Press the bubble down. A J-roller -- a tool used by contractors for smoothing laminate during installation -- is the best tool for the job. A rolling pin will also work.
- Place something heavy over the bubble to hold it in place for an hour while the adhesive sets.