Thank you.
You make some good points. Look at the price index and the cost index, starting in 2002 at 100. You know how much grain and oilseed prices have gone up in 2007. We're looking at starting at 100 in 2002. Oilseeds are at just over 120 for 2007. But the fertilizer started at 100 and has escalated to 160. So again, that is exactly what has happened.
Never accept the argument that the reason fertilizer is going up.... We're again looking at hundreds of dollars per tonne between last fall and this upcoming spring. Natural gas prices have gone down. We met with the Canadian Fertilizer Institute, and they showed us that natural gas prices have gone down. So it's only market demand that is driving up the price, and whatever can be done about that we would certainly welcome.
Now 90% of fertilizer is demanded by developing countries, mainly China, India, and Brazil, but it is clearly only market demand. Over the last five to ten years, 40% of the U.S. fertilizer companies closed down because they claimed that they weren't making enough money. It is only market demand we are up against.
If I may add one other thing--