My feeling is that if oil is at $64, up from $25 just a short two to three years ago, and we need to have a Canadian government subsidy in order to create a lower cost of capital.... When I say it was overvalued, the flip side of that is a lower cost of capital; if you have a high price, then you have a low cost of capital. He's saying he cannot run his business unless he has a subsidized cost of capital. I'm saying I just don't believe it.
On May 29th, 2007. See this statement in context.