We’re frankly sick of trying to work out who or what is responsible for high crude oil prices. Whether it’s supply-and-demand imbalance in the markets, as Dave Gonigam argues, or nasty speculators artificially inflating prices, as Andrew Gordan says, we don’t know.

What we can say is that oil is still sky high at $139 a barrel.

Shock Market Trader editor Mike Burnick says there could be a painful correction around the corner. If there is, there’s one sub-sector of the energy industry that would actually benefit big time from such an oil correction: refiners…

Editor’s Note: The Fed and the ECB have taken up opposing positions in the current economic battle, says Mike Burnick. Bernanke & Co have chosen to protect economic growth from the threat of tumbling asset prices. In Brussels, the priority is controlling inflation. This is bad for the dollar, says Mike, which will drive commodity prices higher still. There is no pain-free solution, he adds.

Editor’s Note: Crude oil prices are still above $140 a barrel, and King Abdullah of Saudi Arabia has told us all to get used to high prices. But Mike Burnick — senior analyst at The Sovereign Society — says the black goo is ‘pretty cheap.’ When you compare it to other products consumed heavily by Americans, oil actually seems pretty good value.

Now going global by investing local has been completely turned on its head. Another leading global beverage company is making an offer to buy-out America’s biggest local brewer.

Commodity prices have been going through the roof for years, thanks to a scarcity of supplies and ever-surging global demand.