Chinese Fail to Repeal Laws of Economics

Here's the story. Despite having lots of crude to refine and plenty of demand for its refined products, Chinese refiners are withholding capacity additions because the government has imposed price caps (that is what 'refusing to raise the price' means). How many times do we have to see this in action, that price caps create shortages, before we abandon all talk of price caps here in the US? Sadly, no amount of times will be sufficient given our political system and given that economics isn't taught at the high school level.