Let me take you up on that. I'm worried about the speculative element here, because it clearly robs your industry of predictability, notwithstanding the fact that there may be more difficulty in trying to get these products, going to find them, going to exploit them, and, in the case of refining, having to refine the product. Obviously, it's a two-stage level. But I'm really interested in hearing from your association. Are you not concerned about how far this is getting out of hand?
Last year I was involved with getting Canadians out of harm's way with respect to the number of hurricanes we had, and there were some legitimate reasons. We had 25% of refining capacity wiped off as the hurricane went up the Mississippi, up refinery alley. But I think what people are seeing now, Mr. Chairman--and this is the second time we've seen it in the past couple of years--is a large group of people coming in based on what might be down the road. We saw it earlier this year with CIBC, and many others, saying, “Oh, gasoline will be $1.25 by the end of the summer.”
I think I was one of the few who looked like a bit of a heretic for saying it won't go anywhere. If anything, based on what BP and others were saying, it might actually come down as a result of so many players coming in at those prices of $15 per gigajoule or $1.30 for gasoline. You're going to get a lot of players at $70 a barrel coming in.
Does your industry have any concern about its ability to speak to other nations, other organizations, to try to curb the enthusiasm of a wildly speculative market that hurts your industry and hurts consumers and hurts manufacturing in this country?