OzOne wrote
So please explain the process of supply and demand driving up prices.


Back when I was sleeping through economics classes a prof showed us an equation
for maximizing profits. Supply and demand were among the variables that had to
be estimated but the prof pointed out that in mature industries (like refining)
that these factors were well known and coul be accurately predicted. What was
amazing was how a minor (1 or 2%) change in the supply/demand ratio increased or
decreased prices and thus profits. Maybe some of the business majors here can
provide the actual equation and typical figures.