As oil prices poise to breach a hundred per barrel, energy secretary Angelo Reyes does the right thing: Nothing.

Reyes is doing right by not announcing any populist moves. After all, at least as far as I'm concerned, the oil deregulation regime has been doing just fine. If we were in the late '80's or mid-90's, the scandal-ridden administration would already have been ousted by a coup by right-wing adventurists, who, in those times, timed their moves based on the movements of prices in the world oil market.

It is now close to a decade since we finally smashed the old illusion that oil price subsidies were pro-poor, perpetuated for a long time by the middle and upper class leaders of so-called 'people's organizations.' Note that at that time nominal prices were below 20 dollars per barrel. Now the high is about five times. But we don't hear of any outrageous manifestos that the increase is caused by the local ruling class in conspiracy with foreign capitalists, do we?

I have a list of measures the energy secretary might consider, but none of these will lower gasoline prices for the middle class. In the meantime, he should just stand his ground.

Here's a list of easy energy saving tips promoted by Iran's revered president.