ContraCostaTimes.com | 08/11/2005 | Shipping industries deal with rising diesel prices
Well, this is a partial explanation. This article doesn't talk about the fact that oil companies would rather put their capital into drilling, which has a higher ROI than building refineries, pipelines and storage facilities. Why should they, when they're making record profits?
There was an article in the paper today about the airlines almost running out of fuel in California. In some cases, they even had to truck jet fuel in over-the-road from other airports, and in some cases even brought it in by air.