[stickywillie]

when does the law of supply & demand kick in?.....storage facilities have to be drowning in oil

[thackney]

when does the law of supply & demand kick in?

It already has. We are importing less crude oil and even become an exporter of refined products (downstream of the refineries)>

[Deaf Smith]

The law of Supply & Demand still applies. Excess refined fuels are exported which props up the high Futures Market for domestic gasoline, diesel fuel and jet fuel.
http://money.cnn.com/2011/12/05/news/economy/gasoline_export/index.htm

[Deaf Smith]

http://www.veteranstoday.com/2012/01/09/the-gasoline-export-scam/

[Deaf Smith]

More here.
http://205.254.135.7/todayinenergy/index.cfm?tg=exports

[Deaf Smith]

http://www.truckinginfo.com/news/news-detail.asp?news_id=75660

[familyop]

"when does the law of supply & demand kick in?.....storage facilities have to be drowning in oil"

A better question would ask where "does the law of supply and demand kick in?" See countries in Asia and elsewhere, buying more oil and fuels for manufacturing, transportation and the hundreds of millions of consumers becoming new drivers.

[central_va]

when does the law of supply & demand kick in?.....storage facilities have to be drowning in oil

THe excess is being shipped to China as refined product. This isn't your dads dollar.