Because the oil & gas barons will charge the maximum possible price for a gallon of gas that the sheeple will tolerate regardless of how much oil & gas they may have.WTS, why do the laws of supply and demand not work in the fuel market? I'm curious about your answer.
They can just leave any excess oil in the ground or in storage, and though gasoline already refined does have a limitation on storage, they can take refineries off line for "maintenance" or "changing blends" or other "unexpected shutdowns" to keep from building up an excess of gas.
Gas is 3 times what we paid in the 1990's (even adjusted for inflation), while production is at record high levels not seen for over 20 years. If excess capacity/supply affected prices, then prices should be LOWER today than the $1/gal average of the 1990's. But instead gas is $3.50-$4 because the DEMAND is there.
So while the coming shortages in supply will indeed drive prices higher than we've ever contemplated, for now they are able to keep plenty of supply and are able to charge whatever the sheeple demand to pay.
Currently the sheeple are demanding to pay $3.50-$4/gal. In fact, they'll line up around the block just to pay $3.75/gal.
Now why would the oil & gas barons lower their price with that kind of demand?