I want to make the same point.
We have a tremendous increase in oil prices, but we haven't seen supply increasing. So we are not in a situation right now where we are misallocating in a big way. What high prices have done is reduce demand, and it's painful for consumers. But from the point of view of public policy in the United States in particular, it's probably a good thing.
But the fact is that the increase in prices has not given us more supply, for a number of reasons. One is that we don't have the capabilities in the service sector to increase production; the second is that we are not finding any more very large new provinces. We're finding some of them: Brazil is an interesting one; the deep water off the Gulf of Mexico is a good one; Canada, the oil sands, is a good one. But what you see is a big depletion across the world. So what you have here is that as new fields are coming online, they're just not replacing the declining older large fields, and supply is not rising.