I don't particularly like crude oil and gasoline prices at $37 a barrel, and $1.80 a gallon, but it doesn't bother me either. In fact, those prices don't really tell me anything. After all, the real price of crude oil and gasoline is exceedingly volatile. Producers will have times of abnormally high profits, and times of abnormally low profits--like when gasoline was $1 a gallon. Consumers love the latter, but don't seem to understand that you if you want one you will have to have the other.

Is there a shortage? Again, this is a tough term to pin down. The best definition definition is that people want gasoline at current prices, and cannot get it. By this definition, there is no shortage. Another definition is that producers have cut back crude, or refiners have slowed down, with demand constant, causing prices to rise. Something like this has most likely happened, but I have a tough time calling this a "shortage."

BTW, I like your site.