Okay. I appreciate that clarification very much.
Mr. Volpe, I wanted to get to your presentation. I thought it was very good.
One of the things that we're doing in these hearings is we're showing the complexity of the relationship between oil prices and the Canadian dollar. Also, we can't just simply say as policy-makers that if the Canadian dollar goes down, it benefits the manufacturers and it's all good. You've explained that very well. One of the things you say in your brief is, “Plant overhead is a mix of Canadian and foreign currency-based exposure. Canadian-based costs include electricity, indirect labour and local services. However, virtually all specialized and heavy machinery and ancillary equipment are based in U.S. or euro currency costs.”
Can you speak to that in terms of identifying for the committee that companies in your sector—and others may want to comment—what is a more complex picture than simply saying that when the dollar goes down there are benefits to manufacturers and exporters?