Another Record..

The world is facing this energy crisis all because the US cannot control its home and foreign affairs...allowing crude producers and oil companies to SPECULATE freely as they wish...however this attitude will no doubt also have serious implications for them as world demand declines draging most economies with it... Crude oil and gold rose to records after the dollar dropped to an all-time low against the euro, increasing the appeal of commodities as an alternative investment.

Oil has risen 27 percent since Sept. 18 when the first of five cuts to the U.S. benchmark interest rate sent the dollar lower. Traders purchase energy and metals as an inflation hedge when the U.S. currency weakens. Prices also rose on reports that the U.S. launched an air strike in Somalia and that Venezuela sent tanks to its border with Colombia.

This situation is a example of SPECULATION...who cares if the demented Hugo Chavez sent tanks to its border with Colombia, this is yet another show...the U.S. launched an air strike in Somalia, so!!! this African nation has always been involved in some conflict, that is how they live, in any case they dont produce crude, they have nothing.. they are one of the poorest nations of the world...they dont want peace.... so why should these happenings affect crude prices....??? SPECULATION THATS WHY...!!!

What the world needs is a strong US government and not a Bush or Clinton ...frankly is there no one better... The energy market has caught the inflation wave once again as a reaction to new lows for the dollar versus the euro ...

Crude oil for April delivery rose to $103.82 a barrel at 10:01 a.m. on the New York Mercantile Exchange. Futures surged to $103.95 a barrel, the highest since trading began in 1983. Prices are up 68 percent from a year ago.
Brent crude for April settlement rose to $102.17 a barrel on London's ICE Futures Europe exchange. Futures reached a record $103.29 a barrel today.

The only reason for crude to be at or above $100 a barrel is for OPEC not to change the production targets.!!!

The dollar fell to $1.5191 per euro, from $1.5179 on Feb. 29, when it touched $1.5239, the weakest since the European currency's debut in January 1999. Declines in the dollar's value make commodities priced in the U.S. currency, such as oil, appear undervalued and appealing as a hedge against inflation.

So its time world order is restored, be it by the US or Europe someone needs to take the bull by the horns...or all will be a hostage to
crude producers...