The real issue is offshore production.

We got a bigger-than-expected decline because offshore production is still down by more than 50 percent and imports were down. The shock of Katrina is still being felt.

We fail to boost our offshore production at our own expense.

The two hurricanes coming so close together really illustrate how much of our offshore production was affected,

The markets will treat it like it's Tyrannosaurus rex, but bigger.

I hate to be an alarmist, but we're in a situation without much precedent. With the gasoline market as tight as it is, people complain about $3 gas but they'll put $5 gas in their car if they suddenly think it's not available.