I recently posted this to Stan: Financial speculators are deserting the weak dollar and putting Money into Oil, China and India are creating high demand for Commodities (especially Oil). Both the Speculators and the Demand from industrialising Economies is driving up the price of Oil and other Commodities. At the same time OPEC is refusing to increase Production, which would have the effect of decreasing the price of Oil. Worries about Israeli threats to bomb Iran, and unrest in Nigeria, plus the forthcoming withdrawal of Indonesia from OPEC, is also driving up the price of Oil, and therefore everything else. :)

i had posted part of that, a week ago, only the main part that newt G had said oil should only be about 70 bucks a barrel, but companies like goldman sacks were buying up oil along with other speculators on the commotaties market, and were responsible for the increase in price, according to newt G . the increase in part is more about paper than actual use of oil , newt gingrich said we should imedienatly but this was days ago realease half our stratigic reserves to lower the price, and therefore hurt the speculators in the pocket book, non of this is my words, just Newt gindrich on a Fox news show,and the reason was the dollar fell which started it that day, moon posted back to it, i forget where, i put it,