Mr. Stanton, it is my belief that the commodity markets are not well regulated. I would not believe that report. We have seen so many examples. All of us have seen them. We saw Amaranth. We saw the SemGroup recently blow up and lose $3 billion. How much did you have invested to lose $3 billion? Maybe you had $12 billion. All the regulators who say they are regulating things, particularly in the U.S., are not regulating. People say they're regulating the banking business. They have no idea what's happening in the banking business. The derivatives market is totally out of control. There are six hundred trillion derivatives out there that have nothing to do with the commodity market.
But the one thing I want to say about the commodity market is that it's a paper market. It's paper. Anyone with a lot of paper, a bank or hedge fund, can trade paper, but do you know what? They don't take delivery of the oil. You have a real oil market and a paper market. They're two different things.