Oil Prices Are a Concern to Stock Investors

It hasn't gotten much attention, but the price of oil has pushed back above $60 a barrel.

What has received attention is gasoline prices are up about 20 percent in some markets (more in some, less in others).

This is not a surprise. Every year gasoline prices head up as Americans head out on vacations and other summer trips.

More demand means higher prices.

The new gasoline mileage targets announced by the administration (which won't kick in for a couple of years) will reduce the demand for gasoline.

However, what is not clear is whether rising demand in the intervening years will offset the new mileage requirements.

Our struggling economy doesn't need any more resistance, but we should face the fact that until the U.S. has a comprehensive energy program that actually works, we will remain at the mercy of a volatile energy market.