In his comments to stock analysts maybe a week and a half ago, Bill Doyle stated that his company's approach--which is only his company's approach--is to look at the demand for potash and ensure that they have production to match that demand. He made a comment to the effect that the demand for potash was not going to dramatically change, whether the price was x or y. He also indicated that if the major customers around the world, China and India, did not want to support investments in the potash industry and those investments didn't take place because there wasn't sufficient price to generate them, five years from now the price of potash would be $1,500 or higher. His view, as a company, was that he was working in his customers' interests by ensuring the demand and supply of potash would not get so tight that the price of potash would go to those levels. That would require investment today, and in order to make that investment, his company needed to have a certain return.
On May 7th, 2009. See this statement in context.