The increase in gasoline prices reflects the instability in the Middle East and attendant speculation in the oil markets. We need to address the huge run-up in oil prices with comprehensive policies designed to provide solutions to our energy consumption problems. Unfortunately, past administrations have failed us.
The Obama administration should continue to promote democracy in North Africa and the Middle East, and hopefully democratic reforms in these countries will provide some stability in the region and thereby help decrease speculation in the oil markets.
