It is important to utilize white space in your web site.
Most web sites are overcrowded with graphics and links. It can be hard for the reader to focus on the content of the site. While you want to include tasteful graphics in your site, they do not need to fill every blank spot. While you do want to provide links to other areas of your site, you do not need to have them surrounding the content, creating that dreaded "closing elevator doors" look.
Withing the content area itself it is OK, to allow a couple lines between paragraphs. It is OK to use a bulleted list, even if it creates a blank area on the right side.
Incorporating white space into your web page will make it easier on the visitors eyes. It will also allow you to emphasize your headings more emphatically. It will give the graphics you do include greater punch.
It seems that the tendency when designing a site is that if there is a blank area the immediate question is " What can we stick in there."
Is it necessary?
Will it help the page?
Why not give the reader
some time
to relax,
to breathe,
and process what you have said.