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The current spike in gas prices is not primarily a result of anything to do with the freedom fighters in the Arab world...Nor is it a result of OPEC’s production levels...

Rather, the spikes are primarily a result of the speculative market on oil.

Well, uh, what are their speculations based on?

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The point that he's trying to make all throughout the piece is that, yes, the speculation is partly based on the civil unrest in the Arab world but that the influx in speculatory money is inflating the issue beyond the simple idea of supply/demand.

In essence, the presence of speculators exacerbates the price hikes that normally come of a volatile market. This turns the whole market into one giant feedback loop.

(this is all assuming that I understand correctly, of course)

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