There were drafts of this report leaked a couple of weaks ago that reported a 9% annual drop in production coupled with a 1.9% increase in demand.

http://smarteconomy.typepad.com/smar...

This is a problem, unlike the current banking issue, you cannot print dollars to escape the pain. I agree with JP on this one; this will be the defining issue for Obama and his administration. Shortage of fossil fuels will lead us directly into a depression. I hope they have this issue high on their agenda. I look for oil and gas to explode upward in coming months. Gold should follow this explosion upward as will all commodities.

SilverNut