Mr. Bramley, I'm confused. You've put out some numbers of what the investment costs would be, like 58¢ to $1.16 a barrel. I'm sure industry will dispute that, but even if it were twice or as much as five times what your estimate is, why wouldn't industry make those investments? If oil is at $50, $60, to upwards of $80 a barrel over the last couple of years, why not invest in that if it's such a marginal cost of the total?
On February 20th, 2007. See this statement in context.