However, in the U.S. one of the challenges they're facing with their 2015 deadline is the technology is not really there yet 100%. They're still working through that process.
Also, they estimate, from the Federal Railroad Administration, that PTC would prevent perhaps 2% of collisions and derailments and it's going to cost over $10 billion to do the implementation. That money is also being diverted from other safety measures. There is a belief out there also that these would actually create more effect than the 2%, but because of the railways investing so heavily into PTC right now, there is a challenge there as to directing their funds in the right direction.
This is not to say there's an issue with PTC and that it's not something that should be looked at seriously, but I think it is important that we recognize these factors in this going forward and that there is a reality that this legislative requirement has put a real burden on the railways. Some of their other safety measures that they may be able to implement they haven't been able to implement because of the money that they're actually directing so strongly into this particular piece of legislation.
I think it's just good and important that we're recognizing those types of things.
The other thing I wanted to ask you about is in regard to safety management systems. You touched on it briefly in your introductory remarks that you were supportive of safety management systems. I'm glad to hear that. I just wanted you to comment on your perception of the addition of SMS to the safety regime for Canadian rail, and the effect that has had. Maybe you could comment on your perception of the effect that has had on the safety regime in Canada.