Crude for July delivery jumped more than $5 per barrel in New York yesterday (Wednesday) to close at $136.38 per barrel on declines in U.S. supplies and refinery activity.

Wow… Here is an act of entirely commendable proportions.

Could biofuels be our savior after all? This from Bloomberg:

Biofuels can boost incomes and yields for farmers, revitalizing impoverished rural areas when they are introduced in countries with secure land ownership, the International Institute for Environment and Development said.

By raising the price of crops such as corn and palm oil, biofuels can reduce poverty in countries with a high dependency on agriculture, the London-based researcher said in a report with the United Nation’s Food and Agriculture Organization.

Inflation is usually followed by deflation - but not for the United States. What inflation means to central bankers, investors and the consumer. Dubya presents Middle Easterners with a lengthy ‘to-do list’…the downside of Hollywood…and more!

In the energy market Monday, crude for June delivery finally took a breather, slipping to $124.23/barrel, down $1.73.