End game to the oil rout, page-30

So basically eshmun, us WTI crude prices are going to go much lower, as the extra crude being produced has no where to go but into storage. Actual gasoline prices though may rise. Perhaps not a particularly surprising outcome considering how long it must take a refinery to be planned, permitted and finally constructed (assuming it can get past all the red tape). The shale boom is barely a decade old.

As you mention, it could get even worse, if gasoline prices rise, demand may fall, which would further exacerbate crude build up (less demand for refined gasoline could mean lower refining and hence even less draw down on the crude being stored). Ha. Damned if you do and damned if you don't situation.