Supply & Demand facts
Please check out the demand growth in China, India, Russia and Canada: Especially from a percentage basis. This, coupled with  oil supply peaking,  the falling value of the dollar, and  U.S.'s energy dependence growing from 25% to 60% since 1973 provides the root cause of oil price spikes. Well, that and a total lack of funding and lack of an integrated energy policy, focused on energy independence. Leadership, anyone?