The problem; automatic computerised trade in oil futures. Such trade is not "real" as trader is neither supplier or user. The solution is to demand that all such trade is invoiced by a real supplier to a real user. My purchase of oil, as a user, creates a price, that is real trade, not speculation.

Chris Coles, Medstead, Alton, United Kingdom

Frederick, London. You may be able to walk/bike to most places in London (if you don't use the train/underground/bus/taxi). Most of us don't live in London and can't! However, I ffel you need to get out more and see what's happening around the rest of the country.

David Leslie, Perth, Scotland

I bet the threat of nationaization by most countries of the oil companies would see an immediate drop in oil prices .
Remember pool in the war years?
Brian.

brian lee, medina, usa

The current price doesn't reflect supply and is speculator driven. The Oil is bought by speculators with an option that is a fraction of the current value and sold before full payment is required. How about regulatory change requiring a higher initial payment - discouraging speculation?

John, Cheshire,

Until unregulated 'face to face' trading in oil futures and derivatives by the banks is stopped this will continue. Make any obligations under these trades an unenforceable debt and it will stop. It used to apply to gambling debts in the UK.
This situation is far more serious than that.

David Nammory, Liverpool,

The heart of the problem, I think, is that far too much money has been created by borrowing. This money is sloshing around trying to find a return to service the debt it came from. It was chasing property until recently and is now chasing oil and food. We need a return to sound money worldwide.

yorrrick, Maidenhead, Berks

World population has risen since the discovery of oil from one to over six and a half billion.
Oil, notwithstanding new discoveries, is now depleting. World population will piggy-back down with it. There is no immediate alternative.
Be prepared for a rough ride.

C Smith, Norwich, UK

The oil/gas price will not fall back until we've stopped using it.

DickW, Aberdeenshire,

You can also walk or bike to most places.

Frederick, London, UK

It will be interesting to see what the oil producing countries have to say when they are starving because they cant afford the food we export and they cant grow. Oil doesnt help the hunger pangs much.

Tom K, Kansas City, Kansas, USA

The answer to high fuel prices is a fuel where you get most leaverage. HHO gas is the answer. Visit...tfuelcell.co.uk. From one litre of water produce 8,000 litres of gas. It is very safe because water is the storage medium and the HHO gas is only produced on demand when the ignition is turned on.

Jas, Alders, UK

There is an answer the public has not been told about. HHO gas is produced from water on demand in a fuel cell. visit...tfuelcel.co.uk One litre of water can produce up to 8,000 litres of gas. It uses only about 3 to 4 amps & can supplement diesel by potentially up to 40% & petrol by a lot more.

Jas, Alders, UK

Hysteria - all caussed by speculators who are not taxed correctly and subsidised oil around the World.

Frederick, London, UK

Governments are the biggest culprets of a high oil price with 85% tax being taken on every gallon.
Ray.

Ray Nipper, Portbail, France

Who can identify those (persons &/or agencies) who are pocketing the bulk of these crude-oil giga-fortunes? Is it the oil-sheikhs, the OPEC mafia, the Banks, the brokers? (The oil companies appear to be relatively innocent). The damage, on-flowing from their greed, borders on global guerilla war.

Durham, Auckland, New Zealand

We will have no alternative but to develop nuclear fussion.The universe itself relies on this form of energy when stars are created.

stephen hulton, eure, france

In the USA, drilling and exploration are banned off of the California and Florida coasts, in major potions of Alaska and any new oil refineries or new major oil production facilities (coal to gas generating plants) have been stopped by lawsuits and local regulation. This was foreseen 10 years ago.

Steve, Hammond, US

This is total manipulation. The fact that it hasn't been dealt with is simply a matter of protocol and procedure. It'll happen. This isn't a supply issue otherwise we'd all be in a line for gas. There's clearly intent here. Diesel options come this fall.

EP, San Clemente, United States

at the risk of sounding repetitive, someone has to step up with some real stats : 31 billion barrels a year being used, 1.3 trillion in reserves. It's not going to last forever, why won't someone just say it ? Social change on a massive scale is necessary to stretch the reserves out. Alternatives ?

gareth, arveyes, switzerland

Mankind is always going to use the cheapest form of energy available. Easily-exploitable fossil fuels were a one-off windfall and are now all but gone - we have hit peak oil. Future prices will rise monotonically, forcing us to reduce our dependency. Think nuclear fission (unavoidable), then fusion.

Aaron Turner, Northampton, UK

Forget about oil, there's enough coal in the world to build tens of thousands of fuel from coal refineries (a la Sasol in South Africa).

peter brown, Perth, Australia

Wow, for once all the comments on a thread make sense! I agree completely. There is hope, yes? The one thing I would add is to figure out how to stop driving and find work you can do from or near home. If you must have an SUV, get a commuter car to commute in.

Brian, Dallas, USA

If the world wants to stop the continual rise of oil and fuel all that needs to be done is to remove oil and gas from the futures market like it was prior to 1983 and then things will get back to normal.

Tim , Elyria, USA

Oil is important for the USA to be able to continue to provide such socially redeeming valuable "bread and circus" events such as NASCAR, Indy 500, Boating America Poker Runs, megayachts in your face, monster trucks, motocross and every other event to show how much fuel you can waste, senselessly.

J. Armour, Kingston, Canada

First and foremost, the world must restrain Israel from threatening war. The one with power shall not be allowed to isue threat.

vaugh, washington, USA

Let's see. The US wants the developing nations to curb their demand so that the developed nations can have more. How arrogant. Maybe the US needs to curb its demand t so the delevoping nations can raise themselves up.

Bruce Northwood, Washington, D.C., USA

Americans need to stop driving those big SUVs with soccer moms and drive small four bangers like the rest of the world.

Americans cant preach free markets on one hand and dictate its terms to oil producers on the other hand.

Its like an alcoholic blaming the Scot for high whiskey prices.

Tariq Shah, Islamabad, Pakistan

The G8 produce virtually no Oil and therefore have no control over output or prices.Why would the Oil producing countries increase output,reduce prices and in effect reduce their own Incomes to satisfy the G8.Price of Oil will only fall if demand is reduced or a big new find comes on stream .

Ed Corbett, bridgend, wales

Speculators high-jacked this market a year ago. Word on the street now has it though, Bin Laden and his gang are investing all their dirty money in the oils future market. They figure they can bring more airlines down financially, and western society by just buying oil stock. Have a nice day!

Lee Collier, Ontario, Canada

The higher the price of oil goes the more likely more and more minds will be considering the possibility that there may be a type of energy that no one has spent much, if any time, thinking about. I'm thinking of some kind of electro-magnetic lines of force, or some energy manipulation of gravity.

John P. Williams, Portage, Indiana, U.S.A.