I am basically in agreement with Martin Braunstein's analysis of the
world/US honey situation.  Just an interesting comment:  I have been
reading C.C.Miller's book, 'Fifty Years Among the Bees", and noted that
he reports honey prices in 1865 at $0.35/pound.  One hundred thirty four
years later the producer price has not yet doubled!  (OK, it was more
than doubled a couple years ago, but settled back again.)  Honey is even
a much better deal than gasoline (which now runs about $0.87/gallon in
Michigan).
 
Ted Fischer
Dexter, Michigan USA