My 2 cents...
1. The days of cheap oil are over...period. Too much demand - not enough supply.
2. Second, more refineries are not being built because oil companies know number 1 is true. Why build new refineries when supply is tapped out?
3. If alternative fuels are not developed in the next 5-10 years, we are all screwed...
4. The Saudi's have said they are going to raise the number of barrels to XX several times over the past 2 years. Guess how many times they actually met their goals.
It is worth a read.