US Treasury chief: no 'quick fix' on oil

DOHA, Qatar - U.S. Treasury Secretary Henry Paulson says there is "no quick fix" to high oil prices because it is an issue of supply and demand.

"I don't see a lot of short-term answers" on high oil prices, he told reporters Sunday during a visit to the tiny Gulf nation of Qatar. There is "no quick fix."

On other issues, Paulson said it was up to Gulf countries currently struggling with high inflation whether they wanted to de-peg their currencies from the dollar. He called it a "sovereign decision."