Why does my nose run after I do?

I run a two to three miles every day to stay in reasonable shape. For some reason, after running, my nose starts to run like crazy. I know it’s not just me—this happens to almost all of my friends that i’ve asked after rollerblading, biking, whatever. It’s not allergies, because it happens on the treadmill too. I don’t have a cold. Why does exercise seem to induce mucus drainage?

I read somewhere one time that exercise causes heavier breathing, which stimulates the mucous membranes and causes and overload. I could be totally wrong though. In fact, I think there are different theories on this subject among Doctors.