The doubling of oil prices ... is creating a more difficult environment in which to act,

This is the IMF at its best working to bring oil producers and consumers together.

A year ago some said that the doubling of oil prices would push our inflation far beyond target and that a recession was required to slow the increase in house prices.

The oil companies are making great gains in this environment of high prices, but consumers are paying the price. These are phenomenal profits — they're expected but completely out of line with what's right for the average American consumer who has to use their car to get to work.

Some companies have given disappointing results. Their shares suffer in an environment with risks, including high oil prices and rising interest rates.

I think there is an environment to make it much easier for the president to act.