If the supply of refined products is the problem, than shortages should begin to occur. It can't be only a matter of high prices if there's not enough to go around.
"While additional supplies of oil will be helpful in keeping crude prices from reaching 80 dollars a barrel, the real supply constraints are with refined products made from crude, said Wachovia economist Jason Schenker.
'There is no strategic government reserve of natural gas or refined products, and right now the biggest concerns in the marketplace are for products,' Schenker said.
'At the end of the day, it may not matter for gasoline and heating oil prices how much crude comes out of the SPR,' he said."
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