First of all, let's clarify the situation here. Steve is here in the position of speaking officially for the C.D. Howe Institute; I am speaking as an individual. I happen to be a research fellow at C.D. Howe, but I did not coordinate my response, as you may have noticed. I don't think it's actually in contradiction.
What I am saying is that you don't see the cutbacks. When there was a recession in the housing and auto industries in 2008-09, housing starts fell 35%, and auto assemblies fell 35%. Oil output is not going to fall 35% this time around.