Let's talk about the oil industry. I believe that it is more important to consider competitive factors from one industry to the next. The crude market is a global market. As a result, everyone is subject to the same price hikes.
Let's look at the table on page 10 of our document. The bottom line shows the price of crude oil in cents per litre. Trends are similar for products like gasoline and diesel fuel; the pattern is almost identical in each case.
However, if you look at the red line, it represents the price per barrel in U.S. dollars. We saw the price per barrel rise much higher than the others in cents per litre, because of the appreciation of the Canadian dollar. As a result, it costs energy consumers in Canada less than in the United States. So, we have become more competitive as a result of our higher dollar. We have an advantage in that sense.
It is also advantageous for the market to be a global market, because our competitors are subject to the same cost changes as our industry. That means that competitiveness and efficiency in our industry are more important than ever, and that energy costs are less important.