Price of light sweet crude for January delivery in New York’s main contract, ending the trade in the position of U.S. $ 99.41 per barrel, up U.S. $ 1.07 per barrel from the previous day’s close.

In london, the price of Brent North Sea crude for January delivery added 51 cents to stop at the position of U.S. $ 108.62 per barrel.

Commodity traders seem optimistic the European Union has taken the right policy in tackling the debt crisis that nearly destroyed the economies in 17 countries.

After the last two years the debt crisis, 26 of the 27 EU countries have agreed to follow the new fiscal rules in order to deal with the crisis.

Only one State not party to agree on new fiscal policies, namely English. “Britain has always been do not want to come (to use currency) euro. So, we’re used to (refusal) like this,” said German Chancellor Angela Merkel was quoted as saying by AFP on Saturday (10/12/2011).

Oil prices trade in a sluggish start and was corrected. However, finally managed to rise again towards the close of trade.

The commodity brokers are also still awaiting the results of meeting the Organization of Petroleum Exporting Countries (OPEC). Many members expressed no change in the production target, despite a slowdown of oil wells in Libya.

Ramirez, who has been sentenced to life imprisonment, he became one of the world’s most famous guerrilla after capturing several oil ministers of OPEC on behalf of the Palestinian struggle in 1975. Since his arrest and conviction almost two decades ago, is held in a French prison, Reuters reported.

Now, the Venezuelan faces 62 years the French courts for their alleged involvement in several bomb attacks took place in France that caused 11 deaths and nearly 200 wounded in 1982 and 1983.

“We are in contact with his family, supporting everything that is possible and a little further from the human point of view, legal, diplomatic, logistical, to be guaranteed their right to defense … against the French courts “he said Friday the Venezuelan Foreign Minister Nicolas Maduro.

The minister said the government appointed a commission of officials to support Ramirez during the trial. Venezuelan President Hugo Chavez, recently instructed the Foreign Ministry to ensure the assistance is Ilich Ramirez.

The terrorist was part of a generation of urban guerrillas wreaked havoc in the 1970 and 1980 attacks on prominent figures and institutions.

In West Germany, the Baader-Meinhof group committed murders, and the Red Brigades in Italy launched a campaign of violence.

“The Jackal” attacks perpetrated around the world in operations financed by the former Soviet Union and countries such as Romania or Syria.

“After New York, he came here,” Chavez said on Wednesday (14 / 9), withoutgiving further details.

The visit is seen as a move that could exacerbate tensions between Caracas and Washington.

Both fierce anti-American ideologues States, Ahmadinejad and Chavez hasbecome a close ally of political and commercial in recent years. Both countriesare allies in OPEC.

U.S. President Barack Obama hit the Venezuelan state oil company, PDVSA,with the sanctions in May for Iran to send two tankers of oil mixture of the components that are contrary to U.S. law.

These measures were largely symbolic and the interests of both countries not toseriously disrupt oil supplies.

Chavez himself would not attend the UN General Assembly session because of health problems. After surgery for cancer in June, he arranged to start the fourth round of chemotherapy in the next few days.

As things stand now, there are already calls by other countries for a more balanced global reserve currency.  The main argument, independent of America bashing, is that the more reserve currencies you have, the more stability there’ll be in the market.  What the bankers did that led to the crisis of 2008 was not only put their own financial institutions at risk, but they tarnished the image of the United States as a safe haven of overall stability.  The result is a call for two expansions.

The first is that Special Drawing Rights (SDRs) should have a greater role in global exchanges.  Currently, SDRs are a basket of currencies that are reserve assets of the International Monetary Fund (IMF).  A SDR represents a claim on currencies of IMF member states that can be exchanged.  The currencies that comprise an SDR are the Euro, US dollar, British pound and Japanese yen.  How much each of these currencies make up an SDR is determined by their overall importance in world trade and finance, thus it is weighted.  Every five years the IMF reevaluates the composition of the SDR.  The SDR can be reevaluated sooner if the IMF deems it no longer reflects “the relative importance of currencies in the world’s trading and financial systems.”

The second expansion would be to put the yuan in the SDR basket, which might make sense considering China has the world’s second largest GDP.  However, it’s not just the size of an economy that determines the weight of a currency.  A nation’s legal system and financial stability play a crucial role in getting other countries to accept their currency as a “reserve.”  One benefit of the yuan becoming an SDR currency is they could no longer artificially depreciate its value.  While Geithner made his statement in March of 2009, Zhou Xiaochuan, governor of the People’s Bank of China, proposed replacing the dollar with SDRs as the global reserve currency.  Clearly, China is interested in first replacing the dollar, and then being one of the SDR currencies.

Is this in America’s interest?  While some Americans fear the idea of a world currency, as a sign of the apocalypse, the dollar has been the world’s de facto global currency for years.  It started with Bretton Woods, and then changed when the gold standard was abandoned in 1971.  At that point, OPEC agreed to trade oil in dollars.  Whereas gold once backed currencies, the dollar would now be backed by a far more abundant commodity.  This is why central banks around the world coveted dollars.  The more dollars they had in reserves, the more value could be implied to their own currencies.  This made sense because the value of the amount of gold in Fort Knox, at $1,500 an ounce, is $395 billion.  Had the dollar remained tied to gold we could not have a $15 trillion economy. With dollars backed by oil, our currency became the new gold.

When people understand why our currency is valued, the importance of our relationship with the Middle East, especially Saudi Arabia, becomes clear.  How each administration allows this to impact their policy differs, but there is obviously a motive to fight and defend this interest.  If the SDR is to replace the dollar, will these nations be willing, or able, to defend the markets that a global reserve currency underlies?  Will consensus be easier to obtain with a greater mutual interest?  For many war weary Americans, any country that participates in a new global currency reserve would have to share the geopolitical responsibility that comes with that.

The relationship between politics and economics is a delicate one and a global reserve currency must recognize the implications to both of monetary policies.  It is through years of incompetent mismanagement that the rest of the world has begun to question the worthiness of America as the steward of the global economy.  The weight of the dollar in the global economy demands the maintenance of sound fiscal policy.  The recent Quantitative Easing is viewed by many as an abuse of discretion by the Federal Reserve.

For the last two and a half years, the Feds have purchased Treasury Bonds to give banks funding for loans to businesses and consumers.  The second round, QE2, ended in June and the financial sector will no longer get the roughly $100 billion a month it was getting.  The two main criticisms of QE are that it is the equivalent of just printing more money, and that it will cause inflation.  Not only has gold & oil been on the rise, but the LA Times reported that wheat is up 70% from last year while corn has doubled.   Big jumps in cotton, soybeans, sugar and other food sources have occurred since the commencement of QE.

Clearly the bankers have taken the money from QE and used it to push up prices in the commodity markets, rather than lending it out.  This takes even more money out of consumers’ pockets for necessities and thereby stunts the recovery.  Yet, there is now discussion of QE3!  Anyone on a fixed income, which now includes almost everyone since very few workers will get raises, should be concerned.  This is also why the rest of the world is seriously questioning why the dollar should continue to be the world’s sole reserve currency.  If the world bucks the dollar, Americans will see massive inflation.

When our economic system is functioning, the Federal Reserve can decrease inflation by raising interest rates.  However, when so many foreign central banks hold so many dollars, we are vulnerable to the possibility of them collectively dumping them.  At that point, Federal Reserve chairman Ben Bernanke would be powerless to stop the collapse of the dollar and the massive inflation that would accompany it.  Market override.

Since most central banks hold their dollars in US Treasuries, their abandonment would force interest rates to rise since the US Treasury would be chasing funds to cover our massive debt. The deterrent to central banks doing this is that they’d depreciate the value of their own assets.  Would that be worth the cost of destroying America’s economy?  The danger with the continued incompetence in Washington is that if foreign central banks feel the dollar is doomed, it would be in their interest to get out first.  That would cause panic and a run on the dollar would begin.  What our government should be doing is advocating a strong dollar and maintaining it as a global reserve currency.  Not going for QE3, and getting our fiscal house in order would go a long way to restoring global trust in the dollar.

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The animation in the oil bazaar was actuality apprenticed by the actuality that barrier funds and added advance engines were perception on the approaching amount of oil. “Approximately 60 to 70 percent of the oil affairs in the futures markets are now captivated by abstract entities. Not by companies that charge oil, not by the airlines, not by the oil companies. But by investors that are attractive to accomplish money from their abstract positions,” Gilligan explained to Steve Kr oft of 60 Minutes.

Last July, aback the civic boilerplate for a gallon of gas was $4, all that Wall Street belief was actuality acquainted in coffer accounts beyond America. As with the apartment market, complicated investments were causing problems for abounding Americans who had never alike heard of the bolt approaching market. But like the apartment bubble, the broadcast oil bazaar belief eventually popped and prices for oil came aback down, rather bound at that.

Could this appear again? Currently the civic boilerplate for a gallon of gas is beneath $2, with Austin gas prices amid $1.49 and $1.69 per gallon this week. Recent animation in the Mideast has acquired a slight bang in the amount of crude, but annihilation drastic. According to 60 Minutes, Congress deregulated the futures bazaar in 2000 authoritative belief on oil derivatives absolutely profitable. Aback ample advance banks like Morgan Stanley began to run into agitation in the abatement of 2008, the oil belief bazaar broiled up.

The deregulation that helped augment the advance in the bolt bazaar is on the continued account of problems to be addressed by the admission Obama administration. As with best bread-and-butter issues, the predictions on oil prices for 2009 vary. The World Coffer predicts oil prices to abatement gradually through 2009. According to a Bloomberg News article, there are abounding added variables to agency into that forecast, such as oil burning in China and OPEC assembly levels.

Working in favor of gas prices blockage lower is the abatement in appeal acquired by the aerial prices over the summer. That accompanying with acute acquaintance of the ecology appulse of active are causing Austinites, like abounding added Americans, to absorb beneath gas burning into their circadian lives. That may be the greatest indicator of approaching oil prices: Americans accepting some ascendancy in the prices by how abundant they drive.

The controversial bill proposed by the Democrats to end the tax breaks extended to the major oil companies known as Big Oil did not make it. Big Oil commonly refers to the five industry giants -Exxon, Shell, Chevron, ConocoPhillips, and BP America. It is estimated that these companies have saved profits of about $900 billion in the past decade alone. The rise in oil prices, it has made them over $30 billion in the first quarter of this year. Despite this, over the years, the federal government has been providing them with various types of subsidies through tax codes. They extended benefits in the form of deductions (like tax breaks).

Image by Tom Raftery via Flickr

Image by Leader Nancy Pelosi via Flickr

The Democrats supposedly came up with a proposal that suggests not having to deal with some of the tax loopholes for the oil companies. The Close Big Oil Tax Loopholes Act is the Act that Democrats claim will help bring them up to $21 billion over a ten-year period, which will help bring down the budget deficit. Even though President Obama is the one who suggested this, it has taken him three years to propose any action about this situation.

With gas prices skyrocketing, the move to eliminate tax breaks is being seen more as a political rhetoric other than anything else. When the common people see that gas prices have increased 10 cents, this produces outrage against oil conglomerates.

What does Big Oil have to say about this?

They claim that doing away with tax breaks will bring forth job cuts, and we know we do not need that. Big Oil also claims that it was unfair for them to be the targets when there were many other industries that share the tax breaks.

What do the Republicans have to say about this?

The Republicans are protesting against this idea because it will have no impact on the gas prices. They have also come up with a bill that favors American exploration and offshore drilling. However, the question is what happened to the money? The Big Oil executives have been using the money to boost their personal wealth, like increasing their stocks. They suggested that Wall Street oil speculators be controlled and should be prevented from raising the prices oil.

Lower oil prices should mean lower fuel prices, which is exactly what the U.S. economy needs. Suddenly, money that was forced to go to gas budgets is freed up. Politics certainly has a lot to do with it. The Obama administration would love to see the economy improve before the next presidential election. But other factors at work as well, including the expected bump in demand from summer vacationers and frustration at OPEC, which failed to agree to increase oil production.

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Talk about the audacity of hope. When President Bush was chastised by Congress and the public that the costs of the Iraq war were monumental we were assured that the costs would be paid or subsidized by Iraqi oil. In today’s OPEC meetings when many members of this downright greedy organization decided to produce more oil and lowers prices some, Iraqi oil minister Abdul-Karim Elaibi of all people suggested to reporters Tuesday that a price of between $100 and $120 a barrel is “reasonable.” thus keeping US prices in the four dollar per gallon range.

What the hell? At a time when Iraq should be kissing our asses and handing us millions of barrels of oil for payback, these greedy ingrates want to stick it to us. I have had it with OPEC and the greedy Arabs who make billions off of all nations and this nation takes it. President Obama if you are reading (are you capable?) this take note that perhaps just perhaps we should start drilling in our own country to the point of making these bastards begging us to buy their oil for ten bucks a barrell. Had we started this years ago and disbanded the EPA and their nonsensical reasoning, this would have been accomplished already, and we would be getting both the benefits of being independent on oil and petroleum products and buying 10.00 per barrel from these greeedy men out of sympathy. We wouldnt need green alternatives and could even bring back Pontiacs and Oldsmoniles. What a concept!!!

     This event is mainly caused by the energy crisis and especially due to the way that OPEC currently controls the oil market of the world.  While countries are putting in billions of dollars into researching biofuels, those monies could easily be spent elsewhere on a topic that does not greatly affect the poor people of the world.  If OPEC did not force the prices of oil so high, there would not be as much pressure of nations to find quick and easy solutions to the energy crisis, allowing the poor of the world to have access to cheaper food.

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This is the official account for Voice of The People U.S.A.!

Formed in early 2007, Voice of The People U.S.A. was formed by myself (Daniel Smeriglio) & (Andrew Woodring) in Hazleton PA in order to show grassroots support for those in favor of supporting legal immigration as well as immigration enforcement! Since then we have expanded into so many different and unique areas with a focus on giving those who feel that they have no voice or no say a place to come and be seen and most importantly BE HEARD!!

We have held hundreds of massive rallies here in PA as well as NY, NJ, CT, MA, and of course our most recent and successful event to date all the way across the country in the beautiful state of ARIZONA!

This organization is a registered “Not for Profit” 501 C 3 and we get involved in a range of issues starting with immigration enforcement as well as fighting political corruption, abuses of power, educational choice, we stand against sky high property taxes, we are proponents of ENDING THE FED and of course the IRS by implementing a FAIR TAX, we stand for second amendment rights and against any limitations proposed against that right! We believe that the states should be able to step in when the federal government is failing to act in the best interest of WE THE PEOPLE!

We believe that the only special interest group in this country that has any true merit is that of the american people with no exceptions!

We believe in removing elitist politicians and those whom are products of political entities from all offices being local, state or federal and rather replacing them with TRUE CIVILIAN REPRESENTATION! It does not require a doctorate or a law degree to run for office, what it requires is to be a legal or natural born citizen and to be of age!

We believe that there is true power in the people of these united states and stand in opposition to any “Grassroots Organization” that makes millions off of people’s pride, passion and Patriotism! If you claim to be protesting a government that is taking too much of our hard earned money and feel the only way to combat this is by taking OUR hard earned money to protest the government doing the exact same thing, well then I have an issue with that organization and/or individual!

OUR BILL OF RIGHTS DOES NOT HAVE A PRICETAG ATTACHED TO IT!!! BOTTOM LINE!

We support our brave men and women in the armed forces whom are serving this great nation past and present!

We are a PRO CONSTITUTION ORGANIZATION! Though I myself have for years been a registered republican I have grown to see that both parties act in only their best interest and do not give a damn about the needs of their constituents! I am an independent thinker and my political foundation is that of the constitution and the wants and needs of these great citizens of these united states!

We believe that english should be the official language of this nation without exception!

We believe that no flag shall ever fly above the American flag! Again this is without exception!

We believe that this country is in fact the absolute greatest country on the face of this earth! If you live in this country and do not subscribe to american exceptionalism then perhaps it’s time to leave this country!

We believe that the United Nations should be thrown out of the United States and that this country should immediately cease to participate in it!

We believe in repealing NAFTA! Time to once again allow american products and ingenuity to once again prosper and support this great nation!

We believe that america should immediately cease all associations with OPEC and that this nation should simply DRILL HERE & DRILL NOW!

We believe that the national debt clock should be changed to ZERO! As far as I am concerned, America’s debt is owed to foreign countries that at some point and time relied on this country to obtain their freedom, democracy and/ or stability and that debt is priceless! It is time to once again become a true nation of independence!

We believe that our men and women abroad in the armed forces should be deployed to destroy the enemies of America and once this is obtained that we should NOT be responsible for the rebuilding and/or restructuring of their collective nations! I ask you all this, how many individuals from Afghanistan have stepped up to rebuild at ground zero!? Or for that matter how many Japanese came to our aid and assisted with rebuilding our base and ships in Pearl Harbor!?! Simply stated, it is time for our troops to come home and defend OUR borders and provide 100% protection for this nation before all others!

Some may view this statement of beliefs as near radical, I view it as my beliefs and that is in fact the bottom line! We are all entitled to our individual thoughts and beliefs and these are mine! For those who disagree I respect that as it is your choice and your right as an american to think and feel as much! either way I will still fight for you and support your differences of opinion!

For those who subscribe to these beliefs and feel that they are in some way an extension of your own collective thoughts and views, then I welcome you and invite you to join me and join us because you are not alone and together we are truly an unstoppable force!

This organization acts on the basic principle that when there is a will then there is a way! We hold massive public rallies or gatherings because that is how you truly make those in power hear and see what you are saying and/or feeling, it is a simple formula but I believe that it is one that has proven effective once before and will so again in the near future.

This organization will always respect you and your individual situations and will never insult your intelligence by telling you when it is ok to rally and what the topic of that said event should be! That my friends is simply pathetic because every concern that you or I have is important and deserves to be shared in a public forum! We also will not send you thirty emails a week begging you for more money and more money or for that matter, you will never see an email from us asking for your money PERIOD! In my opinion we are all struggling through these same hellish times and it is simply impossible to handle day to day expenses with the added pressure of feeling as if you have to donate to any organization in order to feel as if you are a part of that organization!

All the members of this group work multiple jobs in order to survive and when we spend money on rallies it is never easy nor is it cheap! Again we believe in that old addage of where there is a will there is a way and we will always find a way to hold and promote the events that we hold no matter what it takes! We have taken donations one time and all of the great people whom were able to donate were exceptionally generous and their donations covered nearly 60% of the bills that we obtained! That to me was such and honor and I am forever thankful that so many were so generous! With this group, when we hold an event we will promote it and if you are able or want to donate there will be a means in which to do so, but you will never see any posting or email begging for your money! That is just not what we are about!

I am proud to serve at the altar of the american people and it is because of you that we have been able to continue doing what we do for almost five years now! we started long before the tea parties and it wasn’t always easy believe me! Since the inception of the tea party so many people have taken that first step into activism and I am so proud to stand with all of you out there! To be clear and to be blunt, this organization supports all freedom loving activists that put this country first and foremost! We do not support any organization that claims to be the “Leaders or a grassroots movement” and ones who take advantage of the people that they claim to be fighting for!

We also believe that any speakers that may want to speak at any of our events that ask for and in some cases demand a speaking fee, are NOT WORTH OUR TIME OR OUR HARD EARNED MONEY! If they care about and hold the same convictions as those in attendence at these rallies then the chance to speak to WE THE PEOPLE should be all the payment that they need! It is obsurd to me how so many claim that they are defenders of you and I yet demand thousands of dollars just to address a crowd of patriots for a few minutes! So anyone reading this who is considering asking for such a thing understand that you are NOT WELCOME! No one pays us to hold these events or attend these events so why exactly should we pay you for not even a fraction of the effort!?!

Ladies & Gentlemen, this group is designed for and by regular everyday hard working americans that want a chance to be heard and a part in enacting true change and reform! We hold you as the stars! We do not and will never pander to any media outlet or political entity, we live to fight for and serve all of you!

Consider this a rebirth of activism, consider this our declaration of intent,

Consider this the birth of ” AMERICA RISING”!

Now, “Let’s Roll!”

Nomura made a parallel between tensions in the Arab world and now Gulf War. In its first phase, oil prices rose by 21%, comparable with what is happening in Libya (price per barrel increased by 13%).

In the second phase of the Gulf War, the price of a barrel of oil has increased 130%, what could happen and if that tensions in Algeria.

Moreover, Nomura believes that the amount of $ 220 per barrel could be underestimated because the speculative investors who trade crude oil were not active in the early ’90s, but they are very active now, which could lead to a growth and higher prices.