[bwestergard]

Not only is it pushing production down, but the resulting high prices are almost certainly going to cause permanently lower demand in certain sectors and countries ("demand destruction").

I would love to see a complete accounting in a year or so.

[pseudohadamard]

Not necessarily. It's going to massively drive up the demand for coal and wood consumption where it used to be (comparatively) less-polluting gas. We won't really know until 6-12 months have passed and we've collected the data.