Make a roux by melting Earth Balance over medium heat and stirring in flour with a fork until it starts to brown.
Slowly stir in soy milk, making sure to combine flour mixture with liquid. Then gradually add the nutritional yeast and stir consistently over medium heat until it starts to bubble and thicken.
Turn down heat to low or medium-low, and continue to stir occasionally until mixture thickens to a gravy consistency.
Add salt and black pepper to taste.
Remove from heat and serve over toast, biscuits, potatoes or seitan country-fried steaks.

1 cup plain unsweetened soy milk (soy milk is best because of thickness)
1/2 cup nutritional yeast
1 tablespoon whole wheat flour
1 tablespoon Earth Balance butter spread (or other vegan butter)
Salt and pepper, to taste