Surging Gas Prices

Stop the speculation...
http://www.latimes.com/business/autos/la-fi-gas-prices-20120221,0,2040833.story

Goes to show, cutting back on your consumption only increases the cost. When we don't buy it, they send it to South America, so go ahead and buy gas and bring the price back down as demand will increase supply in this case.
We do not buy Iran's oil, so their cutting exports does nothing to our supply.

Rod, you've said this many times. I'd like to know how you do that. Oil is traded on every market in the world. You would have to get every single government on board with fixing the price.

The US could do things to cause the speculation to go the other way by increasing domestic production and, seemingly no brainers, like building the keystone pipeline. My personal opinion is that the current administration, while talking about a "comprehensive energy policy" is to beholden to the far left enviros to actually do anything.

Andreas

(Bloomberg) President Barack Obama will try to head off the political impact of rising gasoline prices as Republicans vow to make the price at the pump an issue in the 2012 election campaign.

Obama plans events this week focusing on his administration’s efforts to expand domestic exploration and development of alternative energy sources to combat cyclical spikes in gas prices.

The White House press secretary, Jay Carney, came to his daily press briefing armed with statistics about domestic exploration and said Obama favors various forms of energy, including higher fuel-efficiency standards, nuclear reactor development and alternative energy research.

He will discuss the steps his administration has taken to increase domestic production of oil and natural gas, raise fuel efficiency standards and promote new construction of nuclear facilities, officials said.

He'll blame the speculators and big oil companies as usual. He doesn't have a clue. Nothing he's done has helped lower oil prices. Obviously.