Okay, thank you.
A project like the energy east pipeline won't have a stabilizing effect on world oil prices in the sense that it is merely moving product from one area to another. As some of the colleagues have already mentioned, a project like energy east would change crude movements in Canada. It would allow eastern Canadian markets to access western Canadian crude, but they will also be doing that at a cost. They're going to be paying a toll to move that oil across the country.
So what would you see? You might see a slight reduction in crude costs to eastern Canadian refineries. You might see a slight increase in the net revenues to western Canadian producers. But you have a long distance to cover, and that's important.
Why have we always, historically, shipped our oil to the centre of the U.S.? We shipped it to the centre of the U.S. because that was a premium market and because it was cheap to get it there. Even if you were a self-interested Maritimer saying, “I want cheap crude”, your best trade for decades would have been to take crude from Alberta to Chicago and sell it in Chicago, and then go to Saint John and buy oil at the port. That has changed a little bit now but it's not a free lunch, so to speak.