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This is going to make the hydrogen fuel cell alot more economically viable. Trust the market, it will balance out eventually. Besides, it's more of a refinery capactiy shortgae right now then reserve capacity that is driving the price up.
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I'd love to hear the explanation for this - I've heard the story constantly but to me it makes no sense. My take is refiners are cutomers for oil producers - not enough refiners means not enough customers for producers. When this happens, producers should be forced to discount their oil to make a sale to the refinery. Refineries should pocket the value of lack of refineries, not see the value pushed back up the chain where there is supposedly no shortage. IMO, a lack of refineries should see downward pressure on crude but upward pressure on refined goods, i.e. gasoline, with big profits for the refiners as the middle man.
Anyway, if someone can explain the logic behind the lack of refineries driving up crude prices (not gasoline prices, as this part of the equation makes perfect sense), I'd love to hear it.