It's the refining capacity stupid!

Outside the Beltway looks at refining capacity as affected by Hurricane Katrina's rampage through the Gulf of Mexico. Creates an interesting problem (one way of putting it) for the industry and also for the Federal Government as it faces more calls for direct intervention in the form of releasing oil from the US Strategic Petroleum Reserve.

As I sit here and hear folks like Jon Corzine prattle on about what they know little of (economics of oil for one), I wonder at the wisdom of such a release. Anybody else got thoughts?