Naturally, the Republicans
were quick to blame all of
this on President Obama.

• Some North American refineries had
  shut down.
   
• Oil companies had increased their
  gasoline exports.
   
• U.S. gasoline consumption had been
  declining for the past four years.
   
• Hedge funds and other financial
  manipulators speculated about
  Iran's potential impact on the
  global oil supply.