A great portion of the problem is in the fact that India and China have such rapidly growing economies. As their industries grow, the demand for energy goes up. As demand goes up, the producers sell first to the highest bidders (America, Japan, European countries) and then whatever is left over is sold to the other countries. So, as China and India demand more and more energy, we have to pay more and more to outbid them. This problem SHOULD let up a bit in the next couple of years, due to the fact that both countries are experiencing ridiculous inflation.
Japan's market dropped 1% tonight on fears the Chinese economy is slowing down, according to CBS.MarketWatch.com.