Sure.
I think it is quite revealing. Going back to the old phrase “never waste a good crisis”, this industry didn't waste the crisis in 1998. Even as oil prices were falling, I think down to $10 a barrel during that period, the industry undertook its remarkable shift from conventional to non-conventional production. That was because they switched technologies. They were using the old bucket wheels at the time to extract oil from the oil sands, and somebody hit on the idea of scraping this off and putting it in big trucks and delivering it directly to the upgraders. At the same time it was made more profitable by changes to Alberta's royalty regime that were adopted in 1998.
We do tend to fixate on prices. It's not just that. There are other technological changes going on in this industry. Over half of all oil production in Canada now is coming from the oil sands, but within the oil sands, soon over half of oil sands production will be in situ with the steam-assisted gravity drainage. Every time there's a picture of the oil sands now in the papers, you always see the monster trucks and everything, and soon we're going to have to update those pictures. It's going to be a quite different industry—much less visible in the future.