That is correct. On the ethanol side, we're very close. We produce 1.8 billion litres. We import about 1 billion litres from the United States. But our mandate, which was established by the Conservative government, only requires 2.1 billion litres. So we actually are over-complying with that mandate. The only time we need to import is actually July and August, during the heavy driving season. That's when we don't have enough capacity. We absolutely have to import to meet the mandate.
On the biodiesel side of the equation, it's very different. The first reason is that there is a credit in the United States, called the blenders tax credit, which is available to anyone around the world to take advantage of. So 100% of biodiesel production in Canada goes down into the United States first.
Then the market dynamics allow for the biodiesel...most of which is probably Canadian canola, which is upgraded and then comes back into Canada. That product will find a home somewhere in North America.
So yes, currently right now we do import product. But I think “import” is kind of a funny way of looking at it, because most of that biodiesel I don't consider an import. I see it as Canadian canola that is just upgraded in the U.S. There is actually a plant that just opened in Lloydminster, Alberta. The Archer Daniels Midland plant will upgrade to create 260 million litres of biodiesel a year. With that plant coming online, our ratio of biodiesel to import-export will change significantly.