No one gave a shit back in 1998 when there was a mass exodus from the petrochem industry...causing this industry to be much less flexible in supply.
All of the sandy manginas complaining here were reveling in the low cost of fuel, buying less economical vehicles and moving to the suburbs, thinking fuel would always be cheap. After all, crude had NEVER been as cheap at $11 a barrel!
Then the precipitating economic malaise, that being the collapse of the Asian economies, reverted and China started consuming an additional ounce per person per day, sucking all spare production dry. And that led us to today.
BTW, at $11 a barrel crude and $0.73 a gallon for gasoline, we should be paying over $4.31 per gallon with crude being $65 a barrel. Exxon ISN'T raping us. Wash the sand out.