President Obama announced a crackdown on manipulation and speculation in the oil markets, calling for more government oversight of the oil markets, including increased funding and staffing for the Commodities Future Trading Commission and an increase in civil and criminal penalties for market manipulators. Tom Kloza, chief oil analyst at Oil Price Information Service, looks at Obama’s speech, oil speculation, and energy pricing.

Despite high gas prices, the U.S. is set to become a net fuel exporter for the first time in 62 years. While the U.S. is still importing 8 to 9 million barrels of crude oil a day, it is exporting a greater amount of refined fuel and petroleum products. The spike in exports is primarily driven by an increased demand for fuel worldwide combined with declining consumption here at home. But is the nation's newfound role as fuel exporter a blip on the map or a sustainable trend?