[FReepaholic]

...Gas demand is tanking at this price yet the price is heading towards $5/gallon?...

That's what I don't understand. Reports are that demand is falling.

Every summer they blame it on the retooling of refineries to satisfy all the different blends demanded by California but it's only February. They can't have started that already.

[dirtboy]

I watched the first part of the Today Show video and they blamed refinery shutdowns, increasing gas exports and soaring demand in Asia.

Of course, in 2008, they blamed it on soaring demand in Asia that never was, which is why the speculative bubble popped and drove the price down to a buck fifty.

I think the same players have another bubble engineered for this summer. If the price of gas is affected that much by exports, the exports will end up staying here instead. Meanwhile, tanking demand would counter refinery shutdowns. This reeks of manipulation.

[Buckeye McFrog]

The danger here is that the Great Unwashed out there look at this and conclude that the Law of Supply and Demand is no longer working.

And if one of the basic tenets of Capitalism is no longer working, then Capitalism itself must no longer be working.