The biggest factor in the price increase right now is supply and demand. There is huge increasing demand in China and the U.S..

While the rhetorical level was dramatic, the policy proposals that followed were meek.

It's more symbol than substance.

Deferring deposits to the Strategic Petroleum Reserve is more symbol than substance.

Short term is tough. We're living now with the consequences of policy decisions that were made over the past several years ? in some cases, over the past several decades. The core of the problem is skyrocketing demand in the United States and other countries and instability among key suppliers.

The reality is we are living with the results of policies in place for the past couple of decades.