This is all artificially created. There is no current shortage, this crisis is alll anticipated heebie jeebies by the oil and gas traders, who scream and fart if someone says "BOO!".
Then they say it is increased consumtpion by china, and next that it is our limited capacity from aging refineries. Yet one does not affect the other. China is buying crude, not refine fuel from us, Opec says there is no shortage of crude. It just doesn't smeel right.
Not to mention gouging by oil corporations. taxes stay fairly constant. Supply and demand, ok, but this is inflated just like the fake california energy crises.
Regular gasoline was $1.77 this time last year. Now is pushing $3.00, you tell me this is normal market forces at work, I'm not buying it. The Hurricane is just another excuse, proof of that is gas was pushing $2.84 here the week before Katrina hit.
But what makes me chuckle to myself is that these thieves who are profitting on Mr and Mrs middle class America are cutting their own throats. They are pushing the price to the point where action will be taken. Many people will finally begin to trade in their 11mpg Excursions and Tahoes when they realize that A) they really never needed such a gashog, it was just a soccer-mom trend and B) they can get by with a 55mpg Toyota Prius, after they wait in line for a year. (of course those who really have a need for the gashogs will still drive them, to their wallets suffering).
The end result will be that fuel consumption will diminish, as it did in Europe when gas hit the equivalent of $5/gallon. People and industry downsized their consumption, and adapted. Gas miser cars and trucks became the norm, hyperefficient diesel engines are now in 50% of passenger cars.
In the end, the fossil fuel profitteers will ensure the transition the next fuel phase by their own greed, although it may take 10-20 years more, whatever that fuel may be. Hybrids may become the standard in the meantime, or not.
I just hope our dependence on fossil fuels ends sometime in my lifespan so I can finally see us move out of this dark age of dependence on fossil fuels.