Oil, Gold Near Records

The actual crude situation is like a huge bubble ready to burst... when this happens we will have reached the turning point were SPECULATION will no longer be the effective instrument that certain governments , analysts, car manufactures , oil producers and oil companies use daily to manipulate prices.
Global inflationary pressures will worsen as energy and food costs keep rising ... We will eventually end up in a recession ...
WorldWatch received a news flash confirming that crude oil and gold traded near records after a slump in the dollar against major currencies boosted the appeal of raw materials as an inflation hedge.
Oil reached a record $100 a barrel yesterday and gold soared to its highest ever. The dollar fell as traders increased the odds of a U.S Federal Reserve cut in borrowing costs this month to 100 percent. Gold gained to a record $860.10 an ounce yesterday.
Consumption is rising in China and India, the world's biggest buyers of the commodity, and governments are promoting increased use of edible oils as alternative fuels.

Also affecting the oil prices is the violence in Nigeria ... may extend output cuts in Africa's biggest oil producer. Nigerian militants killed 12 people in the southern oil city of Port Harcourt on Jan. 1. Unrest has curbed daily production by almost a quarter...Geopolitical uncertainty including violence in the Middle East, Pakistan as well as Nigeria , WHY DOES THIS AFFECT CRUDE PRICES...!! How many people die per day in Nigeria , in Africa ... this never affected prices.... now it does...why ??? BLAME SPECULATION...

Crude oil for February delivery traded at $99.49 a barrel, in after-hours electronic trading on the New York Mercantile Exchange at 2:29 p.m. in Singapore.

The dollar's 11 percent slide last year against the euro helped boost oil prices because it made commodities cheaper for buyers outside the U.S. and attracted investors seeking a hedge against inflation. The priority for this year is to eradicate SPECULATION from the face of the earth...but we must all stand together...the stronger we get the more successful we will be, after all its the final consumer that bears the grunt of the inflated crude prices.
Its up to the consumer in our respective countries to pressure governments ,car manufactures , oil producers and oil companies, let them now that this situation has reached the turning point... ONE FOR ALL, ALL FOR ONE...