In Asian countries such as China, major economic growth is taking place, thus causing a substantial increase in the demand for oil. With more people wanting more oil, the price is forced to shoot up because the supply is rapidly decreasing. It is unfortunate, but it seems that as more countries thrive, the worse off the countries that are already established are. If everyone starts demanding as much oil as the US, the world as a whole will be in a VERY bad position. Environmentally and Economically.
Generally, to off set this huge inflation of oil prices, America would just drill for it's own oil. But, because of the disaster in the Gulf, a majority of drill has ceased. Even though companies have been given the ok to start drilling again, because of regulations, the main oil wells of the Gulf are inaccessible, this making drilling in the Gulf nearly pointless at this point. The amount of oil that would come from the Gulf wouldn't even come close to lower our demand for foreign oil.