Speculators absolutely ARE to blame for spiking gas prices. They have infested the futures market to the point that it has decoupled from fundamentals like supply and demand. My answer is to throw a 35% tax on the sale of gas or oil futures by people other that the original producer. I would also consider limiting the market to principals that can actually take delivery of 1,000 barrels of gas or oil. There is no good reason to have a barrel of oil to be sold 38 times on the futures market before it is delivered. The market is overrun with non-principals creating artificial demand for the futures to the point that the market demand is not reflective of the actual demand for the gas or oil.