I think that is one of the concerns people see in the industry: the high prices of crude oil have not resulted in an increase in reserves. That plays into the peak oil theory. If you look at the major producers, their production levels are flat to declining. Some of the independents in the U.S. are seeing some growth in production. There are some pockets of growth. Saskatchewan has a particularly good pocket of growth in production. On a general perspective, that's why you see the big debate in the U.S. about access to land to drill more. They're just not seeing the growth in reserve additions with the higher prices. I think that's adding to the concern and probably reinforcing the price increase.
On August 27th, 2008. See this statement in context.